I've updated the free agent tracker through today's signings. I haven't been very good about updating that this year, if I had known how much trouble it would be for me I probably would not have put it on the page. I've made some changes, for display purposes. I've gotten rid of most the stats on the free agent tracker page. If you want those, just go to the player page. If I do this again next year I'll set up an excel macro to generate and update the page.
Now that almost all of the big names have signed, you can see a big disparity between the guys who get one year and especially those who got 3 or more years. The big 3 are Lackey, Bay, and Holliday, and those three got a total of 268 million, or 47% of all the free agent money spend on the guys I tracked. From some of the middle class signings it appears that the going rate per win is 3.5 million. For these three guys teams paid 6.3 million per win, given a projection of 3.7 for Lackey, 4 for Holliday, and 2.9 for Bay. My assumption is that salaries increase 5% per year after 2010, and each player loses half a win to aging per season. It does appear teams paid a premium for the top talent instead of a straight x dollars per win.
If you change the assumptions for Holliday to 10% inflation, and project him at 5.8 WAR in year one, you can get to the 3.5 million per win that seemed common for lessor players.