As for turning projections into dollar values appropriate for your league, I strongly recommend Art McGee's book How To Value Players For Rotisserie Baseball.  It'll cost you $23 at Baseball HQ, but learning the methods used will lead to the best dollar values for your league annually.  One other element you will need for do-it-yourself rankings is the 2009 Games Played By Position, found at Fantasy Sports Central.

MARCH 3: Twins closer Joe Nathan is still among the very best in the business.  He's going in the seventh round, and the 40 saves, 2.50 ERA, 1.05 WHIP, and 75 Ks are worth it.

Nathan is 35, and he had offseason surgery to remove bone chips in his elbow.  He doesn't seem to be off-track because of it, but it's important to know your backup options.

Matt Guerrier is one possibility, though he struck out only 5.5 per nine in '09.  Jose Mijares hasn't been around as long, but he does throw a bit harder and whiffed a more appropriate 8.0 per nine.  However, he's left-handed.  The Twins also have Jon Rauch, who came on strong in his 15.6 innings for them and has closing experience.  Guerrier wins out in terms of Baseball Prospectus' leverage stat, though the other two were close.  If I had to pick one, it'd be Guerrier.

1. Tim Lincecum (2) - $41.40
2. Roy Halladay (3) - $34.66
3. Dan Haren (4) - $33.74
4. C.C. Sabathia (3) - $30.31
5. Zack Greinke (3) - $30.17
6. Felix Hernandez (3) - $28.56
7. Justin Verlander (4) - $27.52
8. Johan Santana (4) - $27.35
9. Adam Wainwright (5) - $25.91
10. Javier Vazquez (6) - $25.76
11. Josh Beckett (7) - $24.38
12. Tommy Hanson (7) - $24.37
13. Cole Hamels (9) - $23.32
14. Jon Lester (5) - $21.72
15. Chris Carpenter (7) - $20.78
16. Cliff Lee (5) - $20.28
17. Ricky Nolasco (9) - $20.20
18. Yovani Gallardo (8) - $19.46
19. Jake Peavy (9) - $19.38
20. Josh Johnson (6) - $19.01
21. Clayton Kershaw (8) - $18.85
22. Matt Cain (8) - $18.36
23. Chad Billingsley (11) - $18.00
24. James Shields (11) - $17.81
25. Phil Hughes (27) - $16.53
26. Ubaldo Jimenez (9) - $16.26
27. Wandy Rodriguez (10) - $16.09
28. Jair Jurrjens (12) - $15.08
29. Ted Lilly (15) - $14.93
30. Scott Baker (13) - $14.88
31. Brett Anderson (13) - $14.40
32. Matt Garza (11) - $13.78
33. Ryan Dempster (15) - $13.43
34. John Lackey (11) - $13.38
35. Jered Weaver (12) - $12.68
36. Roy Oswalt (14) - $12.56
37. Rich Harden (19) - $12.04
38. A.J. Burnett (11) - $11.64 
39. Max Scherzer (13) - $10.81
40. Aaron Harang (22) - $10.38
41. Brandon Webb (12) - $10.19
42. Kevin Slowey (19) - $10.03
43. Colby Lewis (N/A) - $9.69
44. Stephen Strasburg (26) - $9.56
45. Jonathan Sanchez (20) - $8.87
46. Clay Buchholz (17) - $8.83
47. Joe Blanton (25) - $8.75
48. Carlos Zambrano (15) - $8.52
49. Randy Wolf (18) - $8.43
50. Scott Kazmir (15) - $8.07
51. Johnny Cueto (19) - $7.08
52. Neftali Feliz (15) - $7.08
53. Jorge de la Rosa (17) - $6.93
54. Francisco Liriano (20) - $6.53
55. John Danks (14) - $6.45
56. David Price (15) - $5.77
57. J.A. Happ (22) - $5.30
58. Gavin Floyd (16) - $5.10
59. Ervin Santana (20) - $4.94
60. Tim Hudson (18) - $4.76
61. Daisuke Matsuzaka (17) - $4.73
62. Mat Latos (28) - $4.35
63. Erik Bedard (20) - $4.29
64. Bronson Arroyo (28) - $3.71
65. Ben Sheets (19) - $3.32
66. Kevin Correia (23) - $3.18
67. Mark Buehrle (20) - $3.07
68. Jeff Niemann (19) - $3.00
69. Hiroki Kuroda (22) - $2.85
70. Wade Davis (27) - $2.81
71. Brett Myers (28) - $2.81
72. Andy Pettitte (18) - $2.58
73. Edwin Jackson (15) - $2.50
74. Derek Lowe (27) - $2.09
75. Kenshin Kawakami (36) - $1.83
76. Randy Wells (28) - $1.75
77. Ryan Rowland-Smith (N/A) - $1.56
78. Justin Masterson (N/A) - $1.55
79. Joel Pineiro (24) - $1.00
80. Clayton Richard (28) - $0.62
81. Jason Hammel (28) - $0.21

The top tier pitchers seem to be valued appropriately, with the possible exception of Hamels.  Maybe you don't want to wait until the 10th round to take a pitcher, but you could wait until the 7th or 8th and create a very strong staff.  Brad Penny, Brian Matusz, and Marc Rzepczynski just missed my cut for positive mixed league value, but that doesn't mean they're junk.  At a certain point it's wise to ignore projections and rankings and fill out your staff with pitchers you like, guys with good stuff.  Maybe that means Buchholz, Feliz, and Liriano - there are probably a dozen pitchers on this list with the ability to destroy their projections.

10:38am: Over at MLB Trade Rumors, I've been analyzing each team's offseason.  Part of the process includes plugging the team's projected batting order into Baseball Musings's lineup analysis tool using CHONE projections.  I've just finished the American League teams.

The runs per game figures cranked out by these tools reflect only each team's Opening Day lineup, so perfect health is assumed.  Obviously that's not realistic, so the actual runs per game figures will be lower in 2010.  But if we operate under the assumption that it's all relative, we can rank the AL offenses based on these projections.

1. Yankees - 5.826 runs per game
2. Red Sox - 5.371
3. Rays - 5.273
4. Twins - 5.250
5. Orioles - 5.242
6. Rangers - 5.181
7. Indians - 5.178
8. Angels - 5.071 
9. White Sox - 4.826
10. Tigers - 4.719
11. Blue Jays - 4.656
12. Mariners - 4.559
13. Royals - 4.536
14. Athletics - 4.532

A few thoughts:

• The biggest change goes to the Angels, who are projected to drop six spots.  The Blue Jays and A's are also in for big dropoffs.  The Angels lost Chone Figgins' .395 OBP from the lineup, but CHONE also thinks most of their regulars will experience regression.  If you were planning to draft Angels starters with the expectation that they'll get extra run support, you might want to reconsider.  Joe Saunders won't get an MLB-best 6.5 runs scored per game again.
• The Orioles and Rays, on the other hand, are looking improved.  Maybe that means a small boost for Baltimore's Brian Matusz.  On the Rays' side, the entire rotation is draft-worthy (James Shields, Matt Garza, Jeff Niemann, David Price, and Wade Davis).

The Halos committed big money to Fernando Rodney, but he's slated to be a setup man.  Mike DiGiovanna of the L.A. Times explains:

Rodney is expected to share setup duties with Scot Shields and Kevin Jepsen and close on a fill-in basis when Brian Fuentes is down.

Fuentes was relieved by Jepsen multiple times last season, with Mike Scioscia opting for a semi-job share arrangement in mid-September.  Jepsen dealt with shoulder tendinitis that month, so he's been taking it easy this spring.  Shields is coming off knee surgery.

Given Rodney's fastball, closing experience, and contract, he's the one you want.  And though the Angels probably won't admit it, they could try to prevent Fuentes from reaching the 55 games finished he needs for his 2011 option to vest at $9MM.  Unfortunately Rodney is currently going in the 18th round, a sign that those drafting don't realize he's not the closer.  At that point in the draft you can still get established closers like Chad Qualls, Matt Capps, and Kerry Wood.

For all of our 2010 closer reports, click here. And be sure to follow our @CloserNews twitter page for instant updates on changes in closing situations.

• Brian McCann (4) - $24.25.  I don't see why Victor Martinez should be drafted two rounds earlier than McCann.
• Nelson Cruz (6) - $19.60.  A potential four-category stud, still undervalued following his breakout season.
• Joey Votto (3) - $19.23.  I believe Votto's production will be close to the typical first-round first base guys, aside from Albert Pujols.
• Grady Sizemore (3) - $18.83.  Fantasy leaguers are shortsighted...Sizemore is still a four-category monster.
• Matt Wieters (8) - $17.75.  He can potentially match McCann this year.
• Carlos Lee (6) - $15.89.  Maybe he's boring, but I'll gladly take .300-30-110 at this point in the draft.
• Mike Napoli (14) - $15.41.  I still don't think Napoli's ability to go .261-23-61-62-5 in 375 ABs is properly valued.  Similar story with Geovany Soto, who should be better.
• Andrew McCutchen (8) - $14.45.  There's good potential for 15 HR, 30 SB, and 100 R here.
• Juan Pierre (19) - $13.31.  Same old Pierre, this time with 625+ ABs.  Could mean .290, 100 R, 50 SB.  Rajai Davis, while a good value, goes five rounds earlier and has less of a track record.  Julio Borbon is another sleeper speedster.
• Jay Bruce (11) - $11.90.  I'm looking for .269-32-91-85-8 out of Bruce, but the ceiling is higher.
• Asdrubal Cabrera (13) - $10.71.  Could be an all-around 2B or SS, with a line like .290-10-78-97-17 in 600 ABs.
• Chris Coghlan (19) - $10.42.  You'd think a ROY would buy more respect.  Coghlan could provide sneaky value at .294-12-74-96-18.
• Vladimir Guerrero (12) - $10.22.  With only 525 ABs, too.  Vlad could give you .300-25-90 if you don't mind tying up the DH spot.
• Everth Cabrera (20) - $8.77.  Has a shot at 100 R, 40 SB.  I also consider Alcides Escobar undervalued. 
• Gordon Beckham (8) - $8.71.  Could be an all-around contributor, and will even gain 2B eligibility.
• Chris Davis (14) - $8.60.  Back aboard the Davis train?  Eight rounds later than '09, it's worth gambling that he'll reach 30 HR and 90 RBI.  Garrett Jones could provide similar production and qualifies at OF too.
• Adam LaRoche (17) - $8.50.  Chase Field inflates left-handed home runs by 15%.
• Erick Aybar (17) - $6.63.  Don't forget Aybar when you're looking for a shortstop; he could hit .290, swipe 20 bags, and score over 100 as the Angels' leadoff man.
• Corey Hart (16) - $5.89.  Who's to say Hart won't return to his 20/20 glory days?  You're not risking much.
• Kelly Johnson (26) - $5.84.  Perenially undervalued, Johnson moves to Chase and should exceed 10 HR/10 SB.
• Franklin Gutierrez (22) - $5.79.  Though lauded for his defense, Guti could exceed 15/15.
• Cody Ross (26) - $5.62.  One of the cheaper 20 HR, 90 RBI guys you'll find.
• Others I like: Martin Prado, Travis Snider, Kyle Blanks, Conor Jackson, Billy Butler, Carlos Gonzalez, Miguel Montero, and Cameron Maybin.  Who are your undervalued/sleeper hitters for 2010?

1. Vladimir Guerrero (12) - $9.22
2. David Ortiz (17) - $7.53
3. Hideki Matsui (22) - $2.87

I have Vlad and Papi at 525 ABs, Matsui at 500.  If you see them getting more, add a buck or two.  Travis Hafner, Troy Glaus, Jim Thome, and Pat Burrell did not make my cut for positive mixed league fantasy value.  These guys generally have projected ABs of 400 or so, but Glaus doesn't make the cut even with 525.

According to this AP story, Borbon will not be shielded against lefties in 2010.  He is penciled in as the Rangers' center fielder and leadoff man.  Say I put him down for 600 ABs, not atypical for a leadoff man.  In that case Borbon would have a projected fantasy line of .293-5-53-95-40.  It'd be a very Juan Pierre-like line (Pierre is a huge sleeper himself, since he'll play everyday and lead off for the White Sox).

Certain speedsters are not getting proper respect this year.  Borbon, Pierre, Rajai Davis, Everth Cabrera, and Elvis Andrus are all projected to swipe 40+ bags and score 80+ runs, but they're going in the 13th round or later.