Yanks made alot of moves but i am not so sure about them.
Damon does fill the need at Center Sort Of, We picked up another aging outfielder who is on the decline with a weak arm. Damon should not be bumping jeter out of the leadoff spot as Jeter is the better lead off hitter in avg and OBP. Lineup should consist of
Jeter
Damon,
Arod,
Giambi
Sheffield,
Matsui,
Posada,
Williams,
Cano
That way the lineup is split L/R all the way thru and would wreak havoc late in games against opposing BP's. i personally expect Cano to fall back to earth after his good rookie season, If he hits anything above .260 with 10 HR and 60 RBI i would be shocked
Yankees bench is horribly weak right now, they have no pinch hitters of value whatsoever

As far as the yankees pitching, Johnson should improve on last years numbers, his first year in NY is out of the way and most stars have improved greatly in the 2nd year, Mussina is on the decline probably looking at 15-16 wins if healthy, Pavano is injury prone and i expect nothing out of him this season, anything added by him is a plus. Wang pitched great for the yanks in the 2nd half with a composure rarely seen by a young pitcher brought up by the yankees and i expect good things out of him. Chacon has always been a good pitcher he was just stuck in Colorado with a poor performing club, In a full season with the rotation i expect 14-16 wins out of him. 5th starter Jaret Wright i hate, awful pitcher complete waste of money last season. If he pitches a full season i expect a 9-14 record or so.

Bullpen- Best Closer in baseball PERIOD. I dont like the farnsworth signing, hard thrower who has a very flat ball with no motion. There is a reason he was not kept in detroit or ATL, Its unfortunate that the yanks have not learned from the past when it came to signing former Braves pitchers (Wright, Hammond) Villone from Florida will be a helpful pitcher, Good lefthander who has done well over the past few years. Yanks tried for him previously. Myers has always been a very good left specialist, he will never give them any innings but will be great as a spot reliever vs a lefty late. Small was a flash in the pan last year, He will be a long reliever at best in 2006. Stuertze will be probably a mixture of late 2004 and all of 2005, He will not be dominant but will be a fairly reliable righty out of the pen
Dotel, if/when he is healthy could be a monster, As a setup man with Houston he was an absolute force nearly unhittable, as a closer he didnt handle the situation all that well. I personally wonder How the pressures of the yankees stage will affect him