January 21st is a memorable day in Phillies lore because it's a day in which Chase Utley was inked to 7 year extension back in 2007 and Joe Blanton to a 3 year one just a calendar flip ago.
The Utley deal was extremely team friendly considering they locked up the best 2nd baseman in the game for 70% of a decade. The contract was for $85M and wraps up in 2013, just after the Phils should be winning their 3rd straight World Series. The 15th overall selection in the 2000 draft has become a fan favorite with his gritty balls-to-the-wall style of play and is appreciated country wide. The man is an offensive force and a vastly under-appreciated defensive whiz. A career .293/.894 batting line from a 2-sacker is rare. After all, even Harry Kalas knew- "Chase Utley, you are the man."
The Blanton pact wasn't as well received, especially since the Phils now have 4 aces on their staff and GI Joe is a bit unneeded. If he's kept, he'll be the best 5th starter in the Majors, but at 3 year $24M, that's a lot of greenbacks in the final slot of the rotation. My guess is that Blanton is traded once Amaro finds someone to take him without eating money. But for now, Blanton makes this team stronger, and will always be remembered for clouting that homerun in the World Series.
As the saying goes, "Hindsight is 20/20", so if to do over the Utley deal is a no-brainer but the Blanton one is questionable. At the time though, both were decent moves and Gillick and Amaro were in their right mind to do so.