The only way this meeting could go well (and I currently put those odds at 1:20,000), is if the owners can somehow convince the players that they aren't going to keep nailing them with every negotiation in the future. I think the big hold up here, and why Fehr was brought in, was because the players felt that if they got beaten down twice, then every 5 years they would continue to get beaten down.
The other issues just seem to be such a non-issue at the end of the day. The players should love 5 year contracts, especially if you get the big signing bonuses as growing league revenue is more likely to end up in their hands versus signing a 10 year back diving contract where you only make your money today. the age limitations are complete wash-outs and both sides know it. They have both agreed to the 50-50 split and the money to fund existing contracts is so close together it is a joke. That leaves the only thing left on the table to be the 'owner's clearly winning' perception and the players don't want that out there.
in every negotiation what have you heard the players always say? "If the owners would just give a little but they won't budge on anything". If the owners gave at all, they would be playing hockey right now. The players just need to know that they have some power.