You might be right about Gardy not being part of the answer, but Terry Ryan definitely is. Who do you think got us out of the rut we were in in the late 90s? I would also argue that the multi year contracts for Blacky and Carroll should not be considered bad. Everyone knows we didn't get Carroll to hit home runs and drive in a ton of runs, but he does his job by getting on base, either via walks, singles, or doubles. And most importantly, he picks the ball up and gets it to first without too many issues. Blacky is making exactly what a typical 4th or 5th starter should make. He eats innings and is good when healthy (as we've seen so far this year).
Look for the trade targets of the Twins to be Span, Willingham, Pavano, Liriano, Capps, and maybe Perkins. If Willingham keeps producing the way he has, his reasonable contract is likely to return some decent pieces. Same goes for Perkins. Recall the trade for Sergio Santos. The White Sox just signed him to a three year contract extension with three more options in the offseason, and Toronto was willing to part ways with some very valuable prospects for him. Pavano's expiring contract could entice a team down the stretch, as well as Capps (who likely won't get much in return).
If there is anyone that isn't the answer, it's Bill Smith, and the Twins did the right thing by getting him out of the position he was in. He was overmatched and seemed underqualified for the job. I don't think any other GM out there would have let Mauer's agent take us to the whipping shed like he did in the contract extension. Nor would they have traded a proven position player for a pitcher in the Ramos/Capps trade (something you should never do). Nor would they have gotten basically nothing in return for Johan. Nor would they have botched the Delmon Young situation as poorly as he did. If anyone is to blame for the position the Twins are in, that's who you should be pointing your finger at.