The Rangers have made decisions on offering arbitration to their four Type A free agents, offering arb to Cliff Lee and Frank Francisco, and declining arbitration with Vladimir Guerrero and Bengie Molina.
Lee, Francisco and Molina seemed to be no-brainers, with Guerrero being the question mark. Evan Grant explains, in the link above, the rationale behind passing on Guerrero, even though the Rangers supposedly want to bring him back.
The Rangers would get a pair of draft picks if Lee signs elsewhere, and a pair of draft picks if Francisco signs elsewhere, although Francisco seems like a fair bet to accept and return to Texas in 2011.
Francisco coming back would seem to increase the odds of Neftali Feliz getting a legit shot at the rotation in 2011. After all, the Rangers weren't going to pull Feliz out of the closer's spot without anyone experienced available to replace him...but with Frankie returning, they can make him the closer in 2011, and have Alexi Ogando be the 8th inning guy, with the idea being that Ogando could take over the closer's role in 2012. That would allow Feliz to move to the rotation.
Or Feliz could close in 2011, and Frankie and Ogando could be the setup men.
We shall see.