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By all indications, the M's have been the only team with 6+ years at big money on the table for at least eight weeks now. If it was the Yankees or Red Sox instead of the Mariners, Fielder would have signed in early December. This is not about pinching another year out of the Mariners, it's getting a more desirable team to make a similar offer.
Have seen this happen over and over again with the Orioles. Fielder and/or Boras view the Mariners as a worst case scenario, they do not want the Mariners to be the winning team. For the Orioles, it's playing for a scrub team in a division with four top teams and a crazy owner. For the Mariners, it's hitting in Safeco Field with weak lineup protection (and perhaps now playing against the Angels' limitless spending).
Boras is playing a game of brinksmanship with other teams, and he's got the M's in his back pocket for if he loses. The M's are basically being used right now, they're just more leverage for Boras's power play. However, the longer this drags on, the more likely it is that Boras does lose. I'd say each week that passes by without a Fielder signing significantly increases the probability that he ends up a Seattle Mariner.