I've said it another thread but if you can't get Greinke/Marcum then it's better to stay away from the other medium name pitchers. they will way overpriced for their average-ness.

here's a plan to placate the win now group and one that I don't mind. The important thing is that no long term pieces are traded away and the only big contract is Greinke. It will be a lot but he's a player that will definitely be good vs guys like Anibal and Edwin. those guys scream contract that you're going to regret.

1) sign Greinke for 5/100 or a little more
backup plan is Marcum for 3/45 with a vesting option - he's pretty good but he has some injury problems

2) trade Willingham for Shields - swapping veterans from strengths to fill weaknesses on both teams - sucks to lose a 30+ HR guy but I'm not convinced that he'll be healthy in his age 34/35 seasons. And this gives Arcia/Hicks an opening.

3) sign baker to a 1/5 contract with 2 - 8M options - I really don't understand why everyone can't see that signing Baker for 1 yr is a good idea. If he sucks then he sucks but if he's good then he leaves.
backup plan - I like the Villanueva mention above but stay away from Ervin.

4) sign scutaro or Izturis for 1-2 yrs at 5M - at least fill one of the IF positions with a solid player

5) budget 2/6 for a pen arm

6) extend Burton for 3/8 - lock him in for a couple of extra years at 3M to give the team some stability in the bullpen

CF Span
SS Scutaro
C/DH Mauer
1B Morneau
C/DH Doumit (and a little Parmelee)
3B Plouffe
RF Hicks/Arcia/Parmelee
2B dozier/Escobar/Carroll/etc
LF Revere

Gibson/Baker hopefully up by May/June

some people not named Gray
FA RP'er

Payroll comes in at 105ish which is closer to where the Twins should be at. If they aren't able to land Greinke/Marcum then I'm not sure if payroll will make it much past 90M. There just aren't that many other players that make sense to spend money on. It would take some luck to get much past .500 with that lineup and the question marks at the bottom of the rotation but that's a solid team.

I've opted not to try to trade Morneau and Span since I think there value is much lower than people think and I prefer to hang on to them instead of give them away.