Using the reverse engineered Elias bureau ratings on mlbtraderumors.com here is the list of Twins free agents and their status for draft pick compensation.
Jim Thome none
Orlando Hudson B (Twins can offer arbitration!)
Nick Punto none
Ron Mahay none
Nobody ranks high enough to guarantee a 1st round draft pick, there are 4 free agent starting pitchers ranked higher than Pavano for example. If I'm the GM I offer arbitration to Pavano, Guerrier, Rauch and Crain and pick up Kubel's option. That would be 5 extra high draft picks or a combination of draft picks and players worth keeping.