To the people who are dead set against sending money with Peavy and Rios, what exactly do you think the Sox are going to do with that money? Konerko and Thornton are already coming off the books. Sale is the only one currently under contract who has significant salary increases looming. The arbitration group (De Aza, Beckham, Viciedo) aren't exactly playing themselves into huge contracts. Reed, Jones, and Santiago are two years away from getting bigger money, and Quintana is three years away. So a ton of savings isn't needed to fund the current group. Huge free agent deals are proving to be a terrible idea all over the place (ARod, Pujols, Hamilton). The Sox got off relatively lucky with Dunn in that he was only given 4 years and still found some productive streaks here and there.
If eating salary, up to about half of the remaining deals, nets significantly better talent as compared to not eating any salary, then it's 100% the way to go. Now, eating more than half starts to become counterproductive, but saying that the Sox should eat $0 is shortsighted.