I agree with He Hate Me, Giambi is grossly overpaid.
Personally I'd go out and try and get a front of the rotation pitcher because there is know way Randy Johnson makes it through the entire season at 42 on a knee with no cartilage.
After that I would get a solid not nessacerily an All Star middle relief guy just to back up Mo and Farnsworth, as we saw last year The Yankees ususally needed 1 more guy to get to Gordon because thier starters didn't usually go 7. I can't count how many games the Yankees lost in the 5th and 6th innings last year.
After that I would tinker try to fill up holes they have such as a CENTER FIELDER.
The last thing I would do is get a role player. Not a great All Star player but a guy who does his job and most inportantly, plays a good role in the clun house. I'm not an insider but it appeared to me between the Seffield quotes about who's the team captain , and Randy not letting Posada catch him, it seemed like the Yanks didn't have good chemistry. What they need is a guy who is friends with everyone and keeps everyone happy, similar to a David Ortiz, who is just a good guy to have in the clubhouse.
They need a role player without one between hot head such as Sheffield, RJ, Farnsworth combined with someone like A-Rod saying something stupid, the Yankees could be the first team ever to have a bench clearing brawl with themselves.