The current hot topic is Eric Gagne, who apparently is going to choose between the Rangers and Indians. The guaranteed dollars currently offered to Gagne is supposedly in the $6M range, along with a substantial incentives package.
Mark Shapiro is publicly non-committal about Gagne, even going as far as speculating that they may be done adding relievers to the bullpen:
Shapiro has done this type of deal before with a Boras client: two years ago, he signed Kevin Millwood, who was coming off an injury-plagued season, to a one-year deal. Eric Gagne is probably even more a question mark, having only pitched 15.1 innings over the past two seasons, and there's no guarantee that he'll even be a shadow of himself even if he's healthy. As the dollars go up, my interest in Gagne goes down.