Is it that ridiculous though? As I am looking around the league, it seems on par with most UFA's. Hell, Matt Hendricks and Eric Nystrom both got 2.5 million/season on 4 year deals. Jordin Tootoo. Derek Boogaard (RIP). Brandon Prust. Shawn Thornton. Joel Ward. Deryk Engelland.
Is it a good contract? No. But is it the worst? No.
Boyle seemed to have boiled it down the best, through a link regarding the contract. Seems less "bad" in years 2 & 3, as in he may be movable. Begs the question as to why they'd target such a player if everyone's analyses turn out to be true, although as many have pointed out, and I agree with, Sather has made many questionable personnel moves over the years. Hopefully he works out. Got a couple Ivy Leaguers out there on the fourth line, although the last Ranger I recall from Dartmouth never saw the NY ice and the school one went to doesn't always translate into smarts on the ice. We shall see...