Well I'm wondering how the Mets are going to address their holes, they've got a lot of them. They need an everyday second baseman and a left fielder. I'd take an upgrade over Schneider at catcher, he was underwhelming. They picked up Delgado's option, which could go either way depending on what version of him we see.
Assuming they don't resign Pedro (please don't!), they need a back of the rotation starter. Depending on what happens With Perez (he's a free agent) they might need 2.
The bullpen needs a complete overhaul, I don't know how they will fix that mess.
As for the Yanks titles in the late 90s, they had homegrown talent surrounded by solid, but not top shelf, free agents. They fielded a good team that played well together, not an all star team. Brosius, O'Neill, and Tino Martinez were nice players but not all timers by any means.
They didn't really start buying like mad until the Giambi signing after losing the 2001 World Series. They later tacked on A-Rod, Abreu, Damon, Matsui, etc.