It's been clear for some time that the Matt Capps non-tender was a dumb idea, but this is why I thought it was a dumb idea.
The move makes sense for the Twins. Brian Duensing is now in the starting rotation and they need to shore up the bullpen. It's likely that Capps would close while Jon Rauch moves back to a set up role. I mean it would be hard for me to see Capps become a set up guy after being named an All-Star as a closer.
Capps had a terrible 2009 season, but he's pitched in 2010 as if 2009 never happened. I'd be lying if I said I thought that was likely, but I did think it was at least a possibility, and it was worth investing a few million dollars to find out if Capps might be able to regain his luster - not only because the Pirates would benefit directly from his pitching, but because they could eventually deal him. The Bucs' acquisition of Octavio Dotel softened the blow somewhat, but now both are on the market, and I bet Capps brings back more, because he's younger.
UPDATE: The Twins have, in fact, acquired Matt Capps for minor league catcher Wilson Ramos, who's hit poorly this year as a 22-year-old at Class AAA Rochester. He hit well for average before that, though, and has a strong defensive reputation.