The Yankees acquired Xavier Nady and Damaso Marte for four minor leaguers, including prize prospect Jose Tabata and pitcher Ross Ohlendorf.
The trade initially was said to include LHP Phil Coke and RHP George Kontos, but it has been rejiggered to include RHPs Dan McCutcheon and Jeff Karstens.

A good trade? Ask again in October and in 2013.

In the immediate term, it’s a good deal for the Yanks: Nady is having a career year, but even if he reverts to form he’s a big upgrade offensively over disappointing speedster Brett Gardner (who may now be on the trading block). Nady allows the Yanks to DH Johnny Damon. The lineup still has a couple of big holes with names like Cabrera and Molina, and calling Nady a power-hitter (as some reports do) is an exaggeration, but he’s a plus for the Yanks. And he’s signed through next season, giving the Yankees insurance if Bobby Abreu walks as a free agent.
Conversely Marte is having a subpar season against left-handed hitters, who are clipping him at a .255 rate. Getting a lefty upgrades the all-righty Yanks pen a bit, but it was already a team strength. (Anyone — excepting Kevin Youkilis — still think that Joba Chamberlain should still be in the bullpen?)

What did they give up? Jose Tabata was rated as the Yanks’ fourth-best prospect by Baseball Prospectus entering the 2008 season. He’s only 19 and has a high ceiling, but he’s struggled badly (.248/.320/.310 with 3 HRs) at AA Trenton. More importantly, he’s struggled off the field as well, getting suspended at one point and injured. He could pan out as the stud many project him, but he could also become another version of heralded Yankees prospects like Jackson Melian, Wily Mo Pena, Ricky Ledee and Drew Hensen.

Ohlendorf was the main piece the Yankees got back from the Diamondbacks for Randy Johnson. He struggled as a long reliever for the Yankees this season and was sent down to AAA Scranton to work on pitches and was doing well. He will likely translate to a solid but unspectacular major leaguer.

Dan McCutchen has pitched well this season at Scranton, posting a 3.58 ERA in 70.1 innings (11 games started). But he’ll be 26 in September. He’s probably better than either Kontos or Coke (neither of whom I’d ever heard of), but he’s not high-ceiling. Karstens is probably a AAAA-type as well.

So here’s how this trade gets rated: First in October — did Marte and Nady help the Yankees back into the post-season? The second benchmark is in five years — with Nady and Marte having long since passed from the Bronx is Tabata the prince of Pittsburgh? Has Ohlendorf or McCutchen blossomed into a number two-type pitcher?

Balance those two answers and you’ll know what kind of trade it was.

Update: This from the NY Daily News’ Yankees blog:

One scout familiar with the minor leaguers believes Coke will offer the Yankees more long-term than McCutchen, as the organization has several hard-throwing righthanded relievers and not many lefthanded starters.

“This may actually make the deal better,” the scout told the Daily News, adding that Coke’s fearlessness and makeup make him a perfect fit for New York.

Also, the Yankees are apparently on the verge of trading for Jarrod Washburn. Here’s hoping that it’s a Mariners salary dump. Or maybe no trade.