To expand a bit, Downs might not cost as much money because he's a type A, and teams have to give up a high draft pick to get him, so that hurts his leverage (look at Saito for example, while he was a high FA, in his contract with us, we could not offer him arbitration, so the Braves did not give up a draft pick for signing him, which allowed him to get more money. So I think that Down's AAV might not be as high as one thinks, although I do think he'll get the years, which quite frankly, I'm ok with giving to him because of his consistency and AL East experience.
As for Russell Martin, I'm also confused about the hype. This guy was the man a few years ago, but has seen declines in most numbers for his career. He's still young, but he's not the .290/.375/.470/.850 with 20 HR's and 20 SB's machine that he was in 2007. He's still reasonably young (27) but for the past 2 years he's hit about .250. His one saving grace in my opinion is that he is a career .294/.405/.444/.849 against lefties.
However, even looking further into that, he only hit .235/.353/.329/.682 against lefties last year, and .275/.413/.343/.756 in 2009. His power is down, his speed is down, pretty much everything is down. I'd rather have had Miguel Olivo than Russell Martin, especially because he signed for 2 years $7 million.