The only positive to me in the Johnson contract is that it's "dumpable." I don't hold him in very high regard, which is obvious from my previous comments, and I thought the extension was short-sighted, especially for a supposedly cash-strapped team. His production is replaceable.
zito, good list and there has been contract inflation, making value/$ more difficult to discern. I agree with gilesfan that it is hard to make comparisons with pitchers (who are fueling most of the contract inflation) and catchers (where defense and other factors play a heavier role in determining less-quantifiable value) with other position players. The big difference with Infante (where I thought length of contract is the only problem) is that if he comes up short as a regular at any one position, he still has value as a multi-position bench guy. If Johnson doesn't start at 3B, his value goes way down. He can't be a defensive replacement and he can't play positions other than 3B. I don't know how he'd do as a pinch-hitter, but I don't think he has enough power to have value as a DH in the AL. He's a really one-dimensional player and when he's on, that dimension can be valuable, but he's just not worth extending. And I'm actually someone who gives batting average more credence than a lot of the nouveau analysts who discount it.