First Blood

The Giants strike first in free agency, signing Jeremy Affeldt to a 2 year, $8 million deal.

The deal strikes me as, well, really good. Not sure what Brian Sabean's angle is here, but this is a great short-term deal to a guy who is underrated, at least statistically. From FanGraphs:

Based on 2008, Affeldt has shown an entirely new skillset as compared to his major league career, adding a couple of ticks to both his fastball and curve, which have transformed him into one of the game’s best left-handed relievers. Because his curve is a legitimate second pitch, he shows almost no platoon split, and is equally effective against both LHB and RHBs. His stuff is clearly closer-worthy, and while he has no experience as the 9th inning guy, some smart team would be wise to give him a two or three year contract for setup man money and watch him blossom into one of the game’s best relief aces.

But before all of you go out and celebrate the rehabilitation of Brian Sabean's baseball grey matter, be warned - the needless long-term deal to Rafael Furcal may be forthcoming.