The BoSox signed some kid out of Venezuela for $2 million, and the Nationals picked up a player from the Dominican Republic for $1.4 million. Each is, I believe, 16 years old. Look for them to make the majors sometime around 2012 or 2013.
$2 million is high first round money, $1.4 million is mid- to late-first-round money.
Once upon a time, investing in Latin America made a ton of sense, because it was so much cheaper to sign talent -- particularly top talent -- there, compared to the States.
Now, when you are going after guys who are a year or two younger than potential high school draftees, and everyone is throwing around big dollars...I don't know how cost-efficient it really is anymore...