I'm going to go try and get to all the teams one by one and post my realistic opinions on what off season moves they should make. Starting with the Jays because I feel like it.
1. Sign Manny Ramirez. 3 years, $75 million. I really feel like the Blue Jays are the team that would benefit the most from having Manny Ramirez. He'll be extremely motivated to beat the Red Sox and Yankees in that division. If his protection made Jeff Kent look young again there's a good chance it could send Vernon Wells back to the All Star game. No one realizes it because it's in Canada but Toronto is a large market. Fourth largest baseball city behind only NY, LA, and Chicago, all of which support 2 teams. They can afford it.
2. Let Travis Snider and Adam Lind play full time. They can split LF/1B/DH with Manny. These guys have serious talent and they could bat down in the lineup behind Rios/Wells/Manny/Rolen with little pressure.
3. Sign Derek Lowe. 3 years $45 million. Burnett wants out, let him go. Sign Lowe early while the big boys battle over Sabathia and Burnett. He'll likely be cheaper and will definitely go for less years. Shorter contracts have less risk. Halladay/Lowe/Marcum/Litsch/Mcgowan
is a decent rotation and still relatively cheap with 3/5 young inexpensive home grown players.
4. Trade Lyle Overbay. This could go a few ways. Take nothing of value back for salary relief. Exchange him for high priced pitcher. Pay his salary for a mid level prospect. It doesn't really matter which way they go. One idea is he could go the Brewers for Jeff Suppan or Chris Capuano if they trade Prince Fielder. Another is gong to the Yankees for Kei Igawa if they lose out on Tex and would want to play Swisher in the OF. They aren't amazing moves but Suppan or Igawa could probably serviceable #5's who could eat innings, and Capuano is still relatively cheap.
The bullpen was great, and will only get better with a healthy Jeremy Accardo. They may even be able to trade BJ Ryan at the deadline and get a great return. Accardo has proven he can do the job before and Downs was lights out the beginning of last year when he was in the role. The Jays would have been a playoff team in the NL West or AL Central last season and with these improvements could probably make the playoffs in 5 divisions next season. The problem is they play in the AL East where that likely won't happen. The reality is management is going to be less likely to spend because of this and will probably miss out on the top SP options and be forced to take a a second tier replacement for AJ Burnett. They probably won't seriously get into Manny although I could see them bringing in Raul Ibanez, who is a decent second prize.