I hate to say it but I would worry about the distraction.
The story instantly becomes Iginla's return home and quest for his last run at the cup. The Flames go from a team on the rise back to Iginla's team in the media. I know that the players and the room are different and avoid listening to the media, but you can't ignore the fact that they will be listening to questions and people talking about it.
Further, we are all subject to social dynamics. Gio was the clear choice as captain when Iginla left the mess that was. Similar to an old boss coming back it isn't so easy to just flip the switch and put Iginla in a subservient role on the Flames. On any other team, he is a complementary player. The problem with vets who are past their prime is you need to pay them a lot of respect while balancing out their limited capacity. Given his aura on the Flames, I think that it becomes a large distraction.
Further, I don't recall much help from Iginla during his peak in the playoffs. Iginla's Flames were not playoff performers on a consistent basis. The run in 2004 was abnormal. Iginla's Flames turned out to be a relatively fragile group once the playoffs arrived.
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