Okay, Darren Oliver is apparently going to be a Ranger. There's been talk since the offseason started about C.J. Wilson getting a look in the starting rotation, and with Oliver joining the team, I think the assumption has to be that Wilson will be a starter in 2010...signing Oliver doesn't make any sense, given the makeup and needs of this team, if Wilson is in the 2010 bullpen.
So...what does the rotation for 2010 look like? Presumably, we have Rich Harden, Scott Feldman, Tommy Hunter, C.J. Wilson, and either Brandon McCarthy or Derek Holland. McCarthy is supposedly being shopped, so it could be that the Oliver signing is a precursor to a McCarthy deal, which would mean Holland is in the rotation at the start of the season. Otherwise, given that Holland has options, if the Rangers don't move anyone else and everyone in the rotation is healthy to start the season, I think Holland is in AAA and McCarthy is in the rotation.
Moving to the bullpen...I'm going to assume that the Rangers are going to go with a 7 man bullpen. There's been talk that they could go with a 6 man pen, but I think that is unlikely at this point.
Four of the seven spots seem set -- Frankie Francisco, Darren Oliver, Darren O'Day, and your LOOGY, who is probably either Clay Rapada or Ben Snyder. Then you have your long man, who is probably Dustin Nippert, who is out of options. If you want to go the two long men route, then you take Doug Mathis as well. And if Chris Ray is healthy, he's presumably making the bullpen out of spring training.
In which case, barring injury, the only real question for the bullpen is, who gets that 7th spot? Mathis? Neftali Feliz, as the power setup guy? Luis Mendoza, who is out of options? Someone else, like an NRI or a Guillermo Moscoso or a Warner Madrigal?
This also, of course, assumes everyone stays healthy, which is a dicey proposition...but it appears that there's a real good chance, given this move, that Neftali Feliz and Derek Holland both start the season in AAA, most likely in the rotation, waiting for an opportunity to come up and replace someone.