Re: New York Mets 2010: The Magic is... um...
Who else should go from the bullpen? Takahashi? Feliciano? I mean, they're both adequate pitchers, but there's no use carrying a lot of lefty specialists.
Feliciano is, at least, a very good lefty specialist, although (admittedly in perhaps too small a sample size to be conclusive) he hasn't done a great job with Chase Utley and Brian McCann, who he figures to see a fair amount of if he stays with the Mets. (He does own Ryan Howard, though.) But the Mets have put a lot of wear and tear on his arm the last three years (led the NL in appearances by a picture in 2008 and 2009, in the lead thus far in 2010), so I guess you'll have to wonder when and how he'll tail off as he gets into his mid-30s. Jesse Orosco was an effective LOOGY until he was 40 or so, but he was also better than Feliciano at his peak.
Takahashi, of course, is a couple of years older than Feliciano. Has the arm strength to be a long reliever or a spot starter if need be, which Feliciano doesn't give you. He's been more effective than Feliciano during his time as a reliever, though a lot of that was early in the year when nobody was familiar with him, so I guess you have to take that for what it's worth.
I think Takahashi's salary is controlled for the next couple of years since he came over from Japan as a minor league free agent, though I'm not completely sure how that works; on the other hand, Perpetual Pedro is a free agent this winter. If some other team makes him a big offer, I think you have to let him walk, but we have one of the GMs who's the most prone to offer too much money for a reliever so I'm not sure whether that'll happen.
Also, dumping Blanco wouldn't pain me.
If you're going to keep either Blanco or Barajas around along with Thole next year, it's gotta be Blanco, no? They've been about the same with the bat (Barajas has been awful awful awful (OPS .586) since May 9th, though he is exceedingly good at making outs), and Blanco is better defensively so if you want somebody to help Thole iron out the wrinkles he's your guy.