Thank you Ed Wade for making a move after the post. Essentially it's a one year deal with incentives to potentially raise the one million base salary. Erstad isn't very good at all, but I imagine he'll become the backup outfielder behind Carlos Lee, Michael Bourn, and Hunter Pence as well as playing some first behind Lance Berkman. He's a lfet handed bat and used to be a good defender - assuming he doesn't end up on the DL. Not a great move, Erstad gets a raise for an awful 2006, I guess you just fail upward in baseball nowadays.
Also my e-book came out tonight, you can find out more about it here.