Item: Blue Jays sign P Roy Halladay to a 3-year/$40 million contract extension through 2010.

Joel Williams: What a thing of beauty, this recent announcement that the Blue Jays had locked up Roy Halladay until 2010. This guy is an ace in every sense of the word. And he's only 28.

Never mind his stats, this says a lot about the man, Roy Halladay. Taking this extension when he's coming off what could have been his best year and entering his prime pitching years means that he likes it here, likes JP Ricciardi and likes where this team is going. No need to hold the club ransom - no desire to test the free agent market after next season. This is a man who respects what the Blue Jays did for him early in his career, and in turn, is showing the Jays a loyalty not often found in today's multi-millionaires.

AJ Burnett is signed up for the next five years too, giving the Jays the best, youngest 1-2 punch in the American league - for years. And giving them 5 years together guarantees one injury free year from both of them -together- at least once (I hope).

Good job, JP. Great having you, Doc.

Let's get the next five years going.

Christopher James: Exactly--I couldn't say it any better Joel. Let me add one thing though - as part of his extension, Halladay will donate $100,000 to the Jays Care Foundation in each year of the new contract. That's the kind of man we re-upped. Nice.

This is Toronto's best move of the off-season. I don't think it's said enough, so let me have the honors:

Thank you JP. Toronto baseball was sinking without you.

Sean Doyle: In addition to being such a great player to cheer for, Halladay is also a great player to base a pitching staff around. His mechanics are as good as any pitcher, thanks for his complete re-tooling project with Bill Monbouquette, one of the best pitching teachers around. He is one of the most efficient pitchers around, who piles up tons of innings thanks to low pitch counts and outstanding control. His injury record is the traumatic, leg breaking kind rather than the usual medical book of pitcher maladies. 3 years, $40 million will be an absolute steal by 2010.

Jim Turner: Wow, such unanimity. To quote Grandpa Simpson and his nursing home cronies "We like Roy! We like Roy!" Not everyone shares our enthusiasm, of course. Over at Baseball Primer, the reaction to the signing is relatively lukewarm, and there's usually some gnashing of teeth at Baseball Prospectus whenever a pitcher signs a long term deal.

I wonder if some stats analysts aren't taking the whole Moneyball approach a little too far. There's a certain wisdom to saying that NO player deserves a long-term deal worth eight figures per year. If you adhere to such a policy, the odds are good that you won't end up with any bad contracts and you'll post handsome win totals relative to your overall payroll. But you will also forfeit all manner of premium seasons by premium players earning premium dollars. And the goal here is not to amass the best win/dollar ratio - it's to win. Period.

Yes, there is a certain amount of risk associated with all pitchers. Yes, Halladay has managed just 275 innings over the past two seasons. So is he injury prone?

1) Anybody standing in the way of a 100 mph line drive is injury prone.
2) 2004 seemed to be a case of precautionary shutdown. Why push your best starter for a 67-win team?

We have no cases of surgery, or recurring arm ailments, and Halladay was certainly clicking on all cylinders before he got Menched last year. Only the line drive prevented him from collecting a 2nd Cy Young Award.

In a world in which Kevin Millwood can earn a $60 million deal through 2010, $40 million over 3 years for Halladay is a good deal. Just one question remains: How silly will he look pitching in shin pads?