I think it can go either way for AJ. He probably wants a multi-year deal and could get one with the weak catching market. Lip was mentioning how much of a mess AJ was earlier this year worrying about free agency. He might want nothing to do with a one year deal and opt for security elsewhere. The only reason I think the Sox wouldn't offer arbitration is if the amount he will likely be awarded will absolutely hamstring payroll, which is always a possibility.
PK and Putz will be offered arbitration without question though.
As far as the 2011 draft class, it is loaded. Both 2009 and 2010 were weak in comparison. It would very nice to have extra picks this coming year. Though with the Sox track record, they won't be splurging on extra picks. Cheap is par for the course.