The Giambis and Mussinas cut down on first round draft picks for Cashman. Also, as noted hundreds of times before, they didn't reform the scouting department until '06. When Oppenheimer, who is the director of scouting, took over, the Yankees have moved from one of the worst minor league systems to one of the best.
This year, Chamberlain has shown he will be a dominant starter, we moved extra pieces in the minor leagues for Marte and Nady, and we've got guys like Aceves and Coke pushing to be major leaguers, and guys like Robertson, Ramirez, and Veras contributing to a cheap and effective bullpen.
You want to see what happens when you have no minor league system? Take a look at the Mets after the 7th inning.
Cashman is 10 times the GM that Minaya is, and we're going to reap the benefits of it next year. One missed postseason does not ruin his reputation.