All this talk about who's better. You mean on paper? I think the Yankees are better. They better be. After all they spend much more. That's their goal. Who ultimately wins will depend on injuries.
The Yankees' approach now is to maximize their spending advantage--not to try to compete at the farm system level. That means not only signing the top FAs, but trading for salary dumps other teams want to unload and will take less in return. When you get a player and give up less, you improve. That's what happened with Granderson and Vasquez. Not "steals", as the media reported, but simple salary dumps teams wanted to unload where the Yankees effectively "agreed" to add salary in return for giving up less. They added about $8 mil for Vasquez and about the same for Granderson, whose contract balloons after next year. The teams they traded with, the Braves and Tigers, of course, saved that much to do other things.
Cashman made some very clever deals here--improving his team by taking on salary. Contrast that to Epstein, who is forever trying to deal for young, low salaried stars like AdGon or HRam. The only way you can get those types is to OVERPAY in talent, so the net effect is to weaken your team in the long run.
Theo probably realizes this, which is why there is renewed interest in Bay. Bay could be the logical route to making a deal for AdGon involving Ellsbury which doesn't weaken the team--since they now have Cameron near term for CF and replacements longer term. I think Ellsbury's agent Boras is also a factor. I doubt the Red Sox will re-sign Ellsbury, since Boras will push him into the FA market--like he will Pap. Say goodbye to both. I think Pap will be traded, too, perhaps by July.