Here's a way of thinking about it: We just swapped elite closers who were pretty close in value in 2008. We get someone who costs more than $3 million a year less, throws left-handed, and whose also contract runs out one year earlier. They get K-Rod, a historically great pitcher whose role in 2002 will never be forgotten, nor will his contributions to 4 AL West titles since then.
We also get to move up 8 places in the first round of the June draft, from 33 to 25. EDIT/UPDATE: Plus, duh, a supplemental draft pick for Frankie that should clock in at around #46. So: instead of drafting 33rd, we are now drafting 25th and 46th, while paying less money for fewer years for a closer whose per-inning stats were better than K-Rod's last year.
I'm a certified Frankie fan, but there could be much worse outcomes than that. Most importantly, we shouldn't suffer any letdown in performance from the closer position this year, and our bullpen looks to be pretty sharp, though I worry about slippage from Oliver & Arredondo. What say you?