Interesting point from Jayson Stark...
Let me play devil's advocate here: wouldn't there seem to at least be a chance that the Twins will simply keep Santana, play out the year, and wait for two draft picks? Unless the Yankees get an itchy trigger finger (not an impossibility), or they bluff Omar into giving up Fernando (not likely, but I can't rule it out), the Twins are going to get a package that's worse than the ones they turned down at the winter meetings.
Apart from leaving some very ticked-off fans, Bill Smith (a new GM) is going to lose a fair amount of respect around the league, and one wonders if that might make it hard for him to cut deals in the future. There will be no question that in his first big move as Minnesota GM, he blew it and managed to sell the best pitcher in baseball for about 60 cents on the dollar. Admittedly, it's a once-in-a-lifetime confluence of circumstances, but you get the feeling that most GMs would have handled this better.