Been out of the loop for a while...
On Max Ramirez..
Lets start with the fact that yes he had two injured wrist most of last season. That really hampered his ability at the plate.
With that out of the way, Maxamillo has some severe issues. Enough to have him knocked into the 13-18 range in a deep Texas system.
First off, his ability to defend behind the plate has not improved. The plan was to keep him in AAA and let him work on is footwork, defense and game calling abilities and make him fringe average defensively behind the dish. He foot work never improved last year and some people thought his abilities behind the dish as a whole regressed. Most likely he is a 1B/DH guy. He does not have the athleticism to play the OF and, unfortunately, he is pretty short and will not make a great 1B.
Second major area of concern should be the rumblings scouts have had on him being a bad ball or mistake hitter and that his swing is a little slow or long. Combine those characteristics with the wrist troubles and you see why his numbers fell so far. I would be afraid that he might not be able catch up with a MLB fastball. He is a guy that really needs to be scouted hard.
The thing with Ramierez is that unless you have absolute faith in his bat, he may be a non-prospect if he can't stick at C. He is a guy that might be just good enough to captivate everyone when he gets on a hot streak but not quite good enough to be an everyday regular. I really doubt that he is either the C or DH of the future. Lets not forget that unless he rocks with the bat next year he is a potential non-tender candidate due to his age and lack of position.
As far as dealing Lowell and eating 9M for him?
Not a horrible move id the team thinks that Beltre is the best FA option for this year or next year on the FA market at 1B/3B. It is better to treat Lowell as a sunk cost and improve the team this year and fill the potential hole for next year now instead of trying to fill that hole in a weaker FA market.
The big bats are really not going to be available in FA next year. The time frame in which prominent FA reach the market has shifted due to the craze of locking guys up through arbitration and beyond and so there is going to be a "hole" in the market as it adjusts. Not a huge fan of Ramirez but without knowing who else is on the table there is no way to judge.
My biggest concern will be if Texas keeps dragging this out to get something else in the deal in hopes that the Sox will panic. I would not be surprised to see some Beltre to "X" rumors here soon just to see if Theo gets antsy