One year, $5 million was what I figured Vlad would end up getting, and him getting it with the Rangers is okay. Not a great deal, but given the budget and the options out there, they could have done worse.
UPDATE -- T.R. Sullivan's story up on the Ranger website says that the deal is for $5.5-6 million, with a $1 million buyout on the 2011 option, and that Guerrero is expected to hit cleanup behind Hamilton. He also says that Hamilton is expected to be in left field, Julio Borbon in center, and Nelson Crus in right, with David Murphy as the 4th outfielder.