The FO hasn't really done anything bad at all, and have fallen victim to an insane spending spree by MLBs big spenders. Look at all the inflated contracts: B.J. Ryan, Johnny Damon (IMO), A.J. Burnett, Reggie Sanders, otehrs, and now Millwood. Also these are very Epsteinian decisions (staying put with a reasonable offer) ala Pedro Martinez. It actually will turn out much better in the years to come.
For example, the Blue Jays have drained their bank, and though they look solid on paper they could turn out like the Orioles of not long ago. This also means that we have free'd up money for the enxt few years to spend on FAs actually worth spending money on.
That, combined with the cream of our farm system crop, we could return back to MLBs peak.