Prompted by the imminent re-signing of Jorge Posada.
1. Stay true to self regarding Alex Rodriguez. Preliminary grade: B Obviously, an A isn't deserved because the best player in 2007 isn't returning to the Yankees. However, to say for months that A-Rod opting out would end his time in the Bronx, and then sticking to that, was a bold, necessary move. Should that change, however, it'll mean the waste of a lot of money and even more value weighed in credibility.
2. Re-sign Jorge Posada because there's nobody else. Grade: B+
It never should have taken this long, and it may still cost the Yankees a fourth year. But, much like signing Jason Giambi (and Mike Mussina?) in 2001 and signing Clemens in 2007, the Yankees had to get railroaded a bit because the alternatives were worse. Posada gave the best season of his life -- the best season, arguably, of any catcher 35 and older save a few of Carlton Fisk's late years.
3. Re-sign Mariano Rivera, again, because there's nobody else. Grade: Inc.
Rivera slowed this year, but really, it was his command that slowed. His in-the-strike-zone command, that is. He didn't walk a ton of guys, but he made more mistakes and got punished for them. He still had good stretches, still had a respectable ERA and didn't blow many saves, and he was anything but a worry in the ALDS. Again, though, the Yankees will be paying for more years than they expect a reasonable rate of return, to quote the bad guy from "Casino Royale." It's the Billy Wagner theory, but with a much-better pitcher.
4. Upgrade first base. Preliminary grade: D
Doesn't seem like much is happening here. Of course, not a lot is available yet.
5. Upgrade the starting pitching. Grade: Inc.
The Dan Haren rumor sounds great. Getting Johan Santana, however, seems like giving up a lot more than any one player, particularly a pitcher, is worth.
Something should be done, even if Andy Pettitte is convinced to return, because Phil Hughes and Ian Kennedy, as well as Joba Chamberlain, cannot be expected to pitch 200 innings without injury or late-season ineffectiveness. All have had injuries or otherwise been limited in their innings. A pseudo-six-man rotation may be the answer, but assuming someone or some people get hurt, more will be needed.
6. Decide who's playing center field. Grade: A
Putting Johnny Damon in left field allows Jason Giambi to get only playing time he's earned and rests a suddenly aged Hideki Matsui. It also gives one more year to assess the offense of the lovable Melky Cabrera. Best-case: Melky gives a 105 OPS+ and keep playing a strong center, and Damon gives a full year of the post-All-Star break numbers: .296/.364/.450.
7. Pick a manager, any manager. Grade: A
It's been discussed to death, but Joe Torre meant more of the same, which is far from undesirable, but Joe Girardi meant taking a chance in a positive direction.
There's other question marks -- the bullpen, third base, DH/1B platooning, etc. There's a lot of off-season, though, for Brian Cashman to earn his pay -- and keep his job beyond 2008.

You are right, Yankees due really have a lot to work on in the off season. Letting go of A-rod might have been the stupidest decision the Yankee Organization has ever made. He is best player in the league and they are they just going to let him leave to another team, because they do not want to pay him a couple more million that they do have? Posada has progressively gotten better every year and has slowly become one of top catchers in the MLB. Waiting this long to resign him, could cost the franchise their catcher. The Yankees for sure need to get at least two new starting pitchers because the ones they had this past year just weren't cutting it.
A-Rod's agent said the difference was about $100 million. That's as much as $12.5 million per year, depending on contract length.
As tough a move as that is, the Yankees couldn't be blackmailed.
The Posada deal looks done, and yeah, it is about time.