Interesting, but means little if you don't put the puck in the net, and keep the other team from doing the same. Things we have struggled with for several years.
How many times the past 4-5 seasons have we been on the PP and found ourselves screaming at the TV "shoot the puck". happens all the time. But the possession numbers look great.
The thing about puck possession is how do you use it. are you running it as a defensive system or an offensive one. yes if your team has the puck/ball/ etc.... the other team in theory doesn't have it and can't score. But if you have the puck 60% of the time and fail to score, while the other team scores 3 with their 40%, you loose.
Well, then the team in question has trouble finishing, not unlike the Blues or Kings. On the other end of the spectrum, you have a team like the Leafs or Avalanche - ugly possession numbers, but they can put the puck in the net. So, what general possession stats tell us, then, is that possession isnt the be-all and end-all indicator of a team's offensive output. But no one's ever said otherwise, so no real controversy here.
The aforementioned Kings are a really interesting story right now. When they went down 3-0 to the Sharks, some people in the fancy stats community simply rejected reality. "Nope, impossible. This isn't how it ends. The Avs are going to lose in the first round because they're a wretched possession team and the Kings are going to go deep because they're a phenomenal possession team. I don't know how it's going to happen, but the universe is going to course-correct and the Kings are going to awaken from their slumber of suck and be awesome." (Sort of the opposite of the Leafs.)