Right now Zack's contract is dominating the Royals blogosphere, as well it should but there are a couple things I've read that I want address.
Some people consider this just a two year extension alluding to the fact that since he was under team control through the 2010 season all KC did was buy out his first two years of free agency. And certainly they are right because that's exactly what has happened. However there is no way that had contract talks broken down that Greinke would have remained a Royal til he hit free agency, no way. He most likely would have been traded in July 2009 enabling DM to get maximum value since the team acquiring him would have him for a year and a half. So I look at his contract as a 3.5 year extension which while not technically true is probably more accurate.
The second thing I read that I disagree with is that he has had only one good year. Again while this may be true it also isn't. Since his rookie year in 2004 he has had four seasons where he has pitched 120+ innings and has put up a an ERA+ of 120 or better in three of them ('04 - 120, '07 -127, '08 - 123). Last year he had career highs in just about everything so I get why they think that but he had given plenty of indications that such a year was not only possible but an eventuality.
I think it's interesting that people can look at the same set of facts and come to different conclusions, I'm not faulting anybody for their point of view I was just offering my conclusion.