Just saw an email flash from Jamey Newberg, saying that the Rangers have claimed righty pitchers Francisco Cruceta and Mike Wood on waivers. Cruceta was a Mariner, Wood a Royal.
Jeff Sullivan at Lookout Landing did a pretty extensive writeup on Cruceta about a month ago, and I'd encourage you to check that out if you want to know about him. In a nutshell, Cruceta is 25, is out of options, throws hard, and has pretty strong flyball tendencies. I guess he's someone you can take a look at, or try to sneak through waivers later in the offseason, but at this point, I don't see that he'd stick in the Ranger pen in 2007, which makes this claim sort of odd.
Mike Wood was the A's 10th round pick in 2001 (Grady Fuson's last draft with Oakland). Other guys Oakland picked in that same draft that you'll likely recognize include John Rheinecker, Bobby Crosby, Jeremy Bonderman, Chris Mabeus, Dan Johnson, and Neal Cotts...not a bad group...
In any case, Wood was the third-best prospect that the Kansas City Royals got in the Carlos Beltran trade, and has posted mediocre ERAs with poor peripherals with Kansas City. He'll turn 27 early next season, and he's a righty finesse guy who doesn't seem to be a fit in either the rotation or the bullpen, but again, he doesn't cost anything but a waiver claim.
Given that the Rangers aren't likely to have more than three of their own minor leaguers added to the 40 man roster this offseason, they can afford to use the spots, although I'd be surprised if either of these guys are still on the 40 man come Opening Day.