I thought this piece was interesting, from Buster Olney's blog on ESPN.com.

"The market for Manny Ramirez continues to be robust. The Red Sox are talking with the Giants seriously about Manny, writes Henry Schulman, a trade that would have many ramifications -- not the least of which is that the acquisition of Manny would end any chance of Barry Bonds re-signing with the Giants.
You have to wonder how the Giants can get a deal done for Manny, because they have almost nothing to offer up in a deal; San Francisco would never talk about Matt Cain, so from Boston's perspective, left-handed pitcher Jonathan Sanchez would almost certainly have to be included to anchor the trade.

The Red Sox talked with the Indians about Ramirez, but those conversations are dead. The proposals were unworkable from Cleveland's end because of Ramirez's salary and because of the level of prospects the Indians would have had to surrender.

Ramirez would have been a perfect fit in the middle of the Indians' lineup, batting behind Travis Hafner and giving him the same kind of protection he gave David Ortiz in Boston. And because Ramirez played in Cleveland before, he might have asked for less money to accept the trade.

But for a team that opened last season with a $56 million payroll, Ramirez would've been an incredibly expensive bauble -- and, going forward, the Indians will have to have money available to pay Hafner. One way for them to do that will be to continue to develop and maintain a steady pipeline of prospects, and Ramirez would have cost them some of their best (and cheapest) talent."

I'd love to have Manny back, would be ok with whatever is owed to him & would extend him.  But I wouldn't give Crowe, Miller + one.  

We're going to have to deal with Hafner's extension either way, having Manny on the roster won't affect his market rate.