It's hard to exactly dislike the Bard signing, considering that it's just another extension of the overall pitching strategy, this time in the minors. The only reason it's news is that he used to be really good, and we are good at making those types of people really good again. If he flames out, there's literally no harm.
The types of players we need to do better with (in the sense of translating them into in season success, not in the sense that we should have signed different players) are Feliz, Nicasio, possibly Lobstein. Those guys are also relatively low risk, but we're committing decent money to them and expecting them to contribute right away. I have confidence that they will, especially Nicasio, and I like the overall strategy, but that's where my skepticism comes in a little bit, because it certainly seems like we have enough money to have paid/pay for an upgrade in the middle of the rotation.
Even if Bard is lights out in spring training, he's almost definitely destined to spend part of the season proving himself in AAA. There's basically no way a player in his situation can be a bad acquisition -- it's throwing another dart at the board to see if it sticks as a depth bullpen option. I forget who it was at the moment, maybe Worley, but we had a guy who had the procedure that Bard had done recently, so I'm slightly optimistic in terms of our read on his health issues, but certainly not expecting to hear much buzz about him until late May/June at the earliest.
Re: Dickey, I'm still basically positive towards it, but I think I've soured on the idea of moving Melancon for him. I don't think that it's necessarily a bad value move, but more likely a lateral one or one that is a slight improvement if Dickey improves a bit on his recent track record. I'd rather see what prospects it would take and pay that price to improve the overall team just a bit more rather than deal from a position of strength.
I'd be fine dealing Melancon for good prospects or a solid younger player with some control (but we don't exactly have a need for those at non-SP positions), but I'd rather not move him for a one year expiring contract. I think I might move Stewart for Dickey one-for-one, but Stewart's ability to consistently get on base will actually be pretty valuable this year, so it's not an open and shut idea. But you have to figure Diaz is ready sooner rather than later, and him becoming Dickey's personal catcher is an easy way to welcome him to the league and give Cervelli consistent time off (with maybe an additional game thrown in every week and a half - a 65/70-30/35 platoon seems like a good way to roll these days).