Quite a few pitchers out there and what concerns me is that Ryan will late too long to sign someone decent and will get left with nothing. At what point in time last year did he have to settle for guys like Pelfrey and Correia and miss out on others that would have been better pitchers. Surely someone has done a breakdown of this. And the trade for Worley is really in the same category. Could Ryan asked for a better pitcher than Worley turned out to be?
SoVD already covered this pretty well, but there seems to be some revisionism going on across this thread and this board. Correia was signed pretty early on in FA, and while there are people from Philly I'd have rather had (The at-the-time unutilized Dom Brown, for instance), Vance Worley was pretty solid in his first 2 years before the injury bug struck him.
The periphrials suggest that he was remarkably unlucky and also that he's lost some of the deception that made him so effective earlier in his career. It's quite possible that being 25, getting engaged (married?) and completely/unexpectedly uprooting your life to a new city, while trying to rehab an injury, proved too much for him. Given that the Twins felt he showed up to spring training out of shape, I think there's some solid ground for this theory. It also makes him a solid candidate for a bounceback season if he gets his head and body right (see: Dozier). It's rarely advisable to draw conclusions from a trade one season in.
Part of me wants to be excited that we're finally going after a decent pitcher making decent money -- but another part of me is very worried that the Twins will see this as their big splash of the offseason, maybe make another cheap Rich Harden type move (or Pelfrey move) and call it a day.
2/24 for Arroyo would be fine, but given the void in the rotation, they really need to get two guys in that price range before they take fliers on injury cases or re-up Pelf. Kazmir at 2/16 would be a solid second move.
And on that note... I'm aware this is all relative and subjective, the contract Pelfrey signed ($4m, reasonable incentives up to 4.5 or 5m, total potential value of $5.5m, I believe he only reached 4.1) isn't necessarily what I think of when discussing cheap pitcher contracts. It's actually pretty inline with being a one year version of what Correia got (just with a little insurance via the incentives). You may also consider the Correia deal cheap, and that's a perfectly fair reading of it.
For my part, and I know Mackey hates it, I don't mind the idea of an Arroyo signing-especially if the organization uses the contact to limit the risk of a multi-year deal(incentives, vesting options, etc). I think there is benefit to having a consistent veteran workhorse (even if it's consistently mediocre) around for younger pitchers, especially since the rotations people are projecting for 14/15/16/17 are built around 3 or 4 players with fewer than 100 IP combined at the major league level.
Plus penciling in his average workload for the rotation would make it substantially less likely I'm subjected to another "human interest story" about the Twins Pitcher in his late 20s making his first MLB start and all of the adversity/mediocrity he had to overcome to make that start. I'm definitely in favor of that.