The current squawk has a three-way deal happening between the Red Sox, Pirates, and Marlins, that basically has Manny going to Florida, Jason Bay going to Boston, Jeremy Hermida going to Pittsburgh, and a lot of cash and prospects moving all over the place to spackle in the cracks.
The prospects and spare parts of this deal will ultimately determine how it looks long-term for everyone involved, but I have a hard time believing that the Red Sox have a better shot to win the World Series this season with Jason Bay as opposed to Manny Ramirez. I know he's crazy and all, but he's been crazy for a long time and it had worked out just fine.
All that said, I have this feeling that, if it happens, we'll look back on this deal in a few years and remember it as the day the Pirates turned the corner more than anything else. No, I have no idea about what prospects may go their way here, but it strikes me that when the first team in a three-way deal is trying to unload a headache, and the second team in the three-way deal is trying to rent a player in order to go for broke, the third team in that deal stands a pretty good chance of benefiting from the emotional inefficiencies involved.