The NY Daily News’ blog has a sensible post advocating that Torre keep his job:

Torre is still the perfect man for this team. He has guided them to the playoffs for 12 straight years. No other manager has gotten his team there in each of the past two. He has kept them together through the bad times, including this year’s 21-29 start and the 11-19 start in 2005. Both times, the Yankees reached October.

Did they get anywhere in the playoffs? No. But as every player, coach, manager or GM will tell you, these series are crap shoots. Last year, Chien-Ming Wang was the team’s best playoff pitcher. This year, he was a disaster in both of his starts. A-Rod has been a train wreck in the past three postseasons (this one included … his .266 average is fine, but he was 0-for-5 with four strikeouts with men on base. Not good).

A manager is there to get his team through the grind of a 162-game schedule and get them in a position to have a shot in October. Torre has done that every year. …

Bobby Cox has taken the Braves to the postseason 14 times since 1991, yet they have one World Series title to show for it. Do the Braves fans want him gone? No, because they realize how hard it is to get there year after year.

Does Torre have flaws? Absolutely. Any half-sentient Yankee fan can go chapter-and-verse on his use of the bullpen (one suspects that the Joba Rules had as much to do with Flash Gordon and a litany of other burnt-out relievers as they did with Kerry Wood and other burnt-out young aces). But at the same time the blow-hards who say that the Yankees have accomplished “nothing” under Torre in the last seven years are wildly off-base.

You can make an argument that Torre’s time has passed, but as I’ve argued elsewhere you shouldn’t base it on a playoff series, and especially not this one. (To wit: Double-play Derek Jeter had more to do with the Yankees’ losses than did Torre.)