The Crows' playing list was given a substantial facelift at the end of last season, with stalwarts Simon Goodwin, Andrew McLeod, Tyson Edwards and Brett Burton and injury-hit forward Trent Hentschel all announcing their retirements.
The turnover of experienced players has transformed Adelaide's list from the sixth-oldest in the competition last year to the fifth youngest this season and left Craig with the most inexperienced group of players he has coached.
The club had a similar cleanout when former North Melbourne champion Malcolm Blight took over from Robert Shaw as coach at the end of 1996 season.
Blight made the unpopular decision to sack former captains Chris McDermott and Tony McGuinness as well as colourful veteran Andrew Jarman to make way for McLeod, Goodwin, Edwards and Kane Johnson, who were all in the early stages of their careers.
The Crows finished 12th on the AFL ladder in 1996 and were considered rank outsiders to reach the final eight in Blight's first year, but they exceeded all expectations to win the flag.
The club proved its maiden premiership was no fluke by going back-to-back in 1998.
Craig didn't commit his players to repeating the remarkable feat this season, but said the events of 1997 provided a great example for all teams.
"What happened in 1997 shows those things are possible," he said on Wednesday.
"It can happen pretty quickly in the competition and that's why it's important never to cave into lesser expectations.
"[You can say] you're rebuilding, or we've lost 1300 games experience this season and it's going to take another three to four years, but our players don't want that."
Adelaide will kick off its 2011 campaign against undermanned Port Adelaide and Melbourne sides in the opening round of the NAB Cup at AAMI Stadium on Friday night.
The Crows are keen to atone for a dismal showing in last year's pre-season competition, but Craig said their focus wouldn't necessarily be on winning the cup.
"If you win the NAB Cup you're in winning form and winning form is always good form, but it would be a bonus and I think most clubs think like that," he said.
"We've won one of those in the past, but the reality is you're not judged on that.
"I'm not necessarily interested in the scoreboard. What I'm interested in is making sure that after each round we can make good decisions about where we're going and you only get that if guys play with a fierce competitive attitude."