There are other, more effective, ways to spend money coming off of a 99 loss season. I think the spending they did do, to get near 100mil was good... Doumit allows more flexibility for our roster (case in point, only carrying 2 catchers), Willingham is a nice, less expensive, version of Cuddy, and Marquis was needed to fill out the rotation. This wasn't the year to break the bank with a big signing. Next year, with more clarity with the M & M situations, and Morneau hainvg just one more year left, the Twins might be more willing to make a longer-term, impact signing.
Obviously, the 2nd pick in this year's draft will cost more than we've been typically spending on our draft picks, but it would be nice to see the Twins go over-slot with a compensatory pick or two. Also, now might be a good time to invest in some latin american signings.
Now is the time, with the draft, international prospects, and in-season trades, to load up the farm system for 2-3 years down the road.