Well, it WAS important until Wake signed. Because Mario's contract was one which could have been used as a market setter.
Just my opinion, but I don't think player contracts that are obvious abberations are market setters. That doesn't mean that big contracts aren't market setters, but I don't believe that when a guy gets overpaid by this much that it makes a major difference.
In fact, I believe we will see the opposite begin to occur. Contracts like this create big bust scenerios where the player is unlikely to live up to the contract. Haynesworth was the peak example of this and seeing the impact of his contract on that team will make teams think twice about overpaying players.
Exceptions like Buffalo will always exist. They were despirate for something, anything. But look at all the quality free agents sitting on the market. They are there because they think they are worth more than they are worth. They don't realize that the mentality is shifting. Younger isn't really all that much better, it is cheaper and when you have a cap to worry about, cheaper is a necessity.