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Clarification on potential compensatory picks for C.C.

I was reading Jayson Stark's latest on ESPN.com today, and I there was a statement I was hoping some LGTers could help me out with. In the article, Stark quotes a MLB executive:

"Meanwhile, an executive from another club says Cleveland "would have to do better than two first-round draft picks" to justify trading Sabathia. "

and proceeds to run down what the Indians could potentially receive back in an in-season deal for C.C. I've seen this argument used in the past when discussing a C.C. trade, that whatever we would receive would have to be better than "two first-round" picks. First, is this reference to a true first-round pick, and a sandwich pick? Second, is it possible (probable?), that our own FA signings this next offseason would negate any picks we would receive from losing C.C.? It seems to me that saying we would receive two first-round picks is a bit misleading (at best) when discussing any compensation we could receive for C.C. Am I wrong in thinking that our signing of two upper tier FAs this offseason would leave us with nothing in return for C.C.?

Full text of article:

http://sports.espn.go.com/mlb/columns/story?columnist=stark_jayson&page=rumblings&lpos=spotlight&lid=tab3pos1

                                                                                                                                                                                                               

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