I don't like any deal for Vazquez at all. He's got the following left on his contract:
2005 - 10.5 M
2006 - 11.5 M
2007 - 12.5 M
He also got a 2 M signing bonus that I'm not sure has been paid yet. That's a big committment in terms of finances and players for a guy who posted a 4.91 ERA, 1.29 WHIP, 755 OPSA, and gave up 33 homers last year. Those numbers are hardly worth $5 M, let alone $10. Now you could argue that his actual numbers would be closer to what he put up in 2001 and 2003, but that's a pretty big gamble when you consider that you're allotting roughly 25% of your payroll to this guy for the next three years (and a payroll that's already heavily tied up in overpriced underperformers), and that you'd be giving up your best all-around player when he's at his all-time low point in terms of value.
The guys to target are the younger, cheaper starters with upside, not the guys who are due 35.5 M on an LTC when you're talking a team with a *very* limited budget (and one that's very top heavy).