-----I guess one of us has to comment on the Jason Bay signing. I would have preferred Holliday and I think the contract is arguably a slight overpay, but it's a decent signing in isolation.
The problem is that even with Bay, the Mets probably aren't a good enough team to make the playoffs. Even if Reyes/Beltran/Johan are healthy, the Mets are around a .500 team with Bay. Adding Bengie Molina would add another win. Adding Molina & Pineiro gets them to 83-84 wins. They'd still be far behind the Phillies and a few wins behind the Braves. It's hard to get this team to a truly competitive point because there are so many holes. It's hard to win with a lineup that includes Castillo, Francouer, Murphy, and Molina and a rotation that includes Pelfrey, Maine, and Oliver Perez.
If I was in charge, I would have tried to prop up the team with stopgap solutions (like a one-year Nick Johnson deal) and avoided any long-term deals that could hurt the team down the road. Then, pour extra money into the draft and international signings. This time next year, we'll have a clearer idea about some of the strengths and weaknesses of the team, and there will be much more attractive free agents on the market.