Update [2006-7-29 6:33:4 by Eric Hinz]:From this morning's LA Times:
The offer looks good as Santana has taken a step forward in his second season and that is encouraging.
Erick Aybar would step into the starting shortstop job in Camden Yards. Whether he would be decent - .265/.330/.400 - is the key from he Orioles' perspective. 30/100/.300 SS are not easy to replace and if Aybar cannot be projected to be a major-league adequate one, the O's may pass.
The angle I like best is the pressure it puts on the Nationals. Soriano would be a great fit on the Angels, but Washington is reported to be asking for the sky.
What the Angels offer does is set a price for what they would pay for a signed superstar - a good, young, cheap SP and a top AAA prospect.
From this, Washington gets to adjust the price downward for a two-month-rental superstar.