Looks like 3/37 with a fourth year vesting option worth 14 million. That's not nearly as high as some were expecting, especially for the "Closer with the best single season ever blah blah" saves record holder. Rodriguez' had a slightly down year (by his standards) and lost a few ticks on his fastball (perhaps injury related), and even saw less swinging strikes, although still well above average.
Nonetheless, the Mets are paying for about 2 WAR each season (assuming it's roughly 13.3 annually) and Rodriguez was worth roughly 12 NLRS last season. A quick check of our leveraged runs saved post from a while ago has him worth 2.9 WAR. Even if you assume Rodriguez is about to go downhill and lose 0.3 WAR annually beginning next season, his total worth would be 51 million. That's exactly the maximum amount the Mets can pay him.
The Mets are high up on the win and revenue curves, and while we can debate the merits of using a closer versus using a relief ace all day, this is their choice. They didn't overpay, and barring an injury Rodriguez should be worth the money. Good deal for Omar Minaya and the Mets.