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Not so much the price I'd pay, but what I expect Jack Z is comfortable with and what both he and Wak think he's worth.
I don't think offense if a big priority with them in regards to Jack W, although they probably believe he'll be fine. They're looking for defense and a guy in the clubhouse to replace Griffey and probably Sweeney. They'll save a few million on him this year at the expense of 2011 and possibly '12 and find someone to drive in runs from the DH slot.
I would also think that promising Felix a shiny, glittery defense and a huggable clubhouse will be a part of their pitch to extend him. Hopefully they sell it enough that he won't ask where the runs are going to come from. ;)