Sure, this is annoying, but let's face it: the Sox wouldn't have won in 2004 and 2007 if they had had Oakland's payroll. So let's not be hypocrites.
Still, while this could very well be a very good thing for the Yankees, all these long term deals could blow up in their face in a very similar way that they did with guys like Kevin Brown, Javier Vasquez, and Carl Pavano. A.J. Burnett has disaster written all over him when you combine the pressure of NY with his horrible injury history. C.C. Sabbathia is very good; however, at 6-7, 300+ pounds, his body could easily fall apart. Texeira is very good, but his contract is very long. And while he's very good, I'm not quite sold on him being a top 5 player in baseball. I could see him being no more than a .300 25-30 HR type guy, which is good, but nothing special at first base.
Let's face it, we're all p---ed. But I wouldn't coronate the Yanks as champs quite yet.