I call bullshit too
If you have a 40 man squad, that's £175k per player before any home grown or England elite squad credits.
If we assume, as we're often told, that we're bang on the salary cap (and the recent fine for minor breach would confirm that we were), then I just don't see that Launchbury is on £275k per year.
He's club captain, he's a regular England international, he's our "crown jewels" (Dai's words). He will be our highest paid player, or very close to it.
The only recent players who should be in that discussion, without being an overseas marquee, would be Haskell, Daly, Hughes and maybe WlR.
If our highest paid players over the last season or 2 are on ~£300k, and if we're hitting the cap, then that means the entire rest of the squad will be on about £150k each....... Which seems very high.