The Elias Sports Bureau has come out with their rankings of players from the past season. I've gone through and matched compensation levels with free agents.

Type A players result in the team signing that player giving up their top draft pick. If the team signing the free agent is in the top half of the draft, they cannot lose their first round pick, and then will give up their second round pick (or subsequent round picks if more than one Type A player is selected)

Type B players who are signed by new teams result in their former team receiving a draft pick in a sandwich round between the 1st and 2nd rounds.

Non-compensation free agents net their former team nothing. MLB did away with Type C players. IIRC, the arbitration rule did not change, where teams who decline to offer arbitration for their departing free agent players give up the right to compensation.

American League
BALTIMORE: Paul Bako, c (NC); Corey Patterson, of (NC)

BOSTON: Matt Clement, sp (NC); Eric Gagne, rp (B); Eric Hinske, 1b/of (NC); Bobby Kielty, of (NC); Curt Schilling, sp (A)

CLEVELAND: Chris Gomez, inf (NC); Kenny Lofton, of (B); Trot Nixon, of (NC)

CHICAGO: Darin Erstad, of (NC); Mike Myers, rp (NC)

DETROIT: Sean Casey, 1b (B); Todd Jones, rp (B); Neifi Perez, ss (NC); Kenny Rogers, sp (B)

KANSAS CITY: Jason LaRue, c (NC); Odalis Perez, sp (NC); David Riske, rp (B); Reggie Sanders, of (NC); Mike Sweeney, dh (NC)

LOS ANGELES: Bartolo Colon, sp (NC)

MINNESOTA: Torii Hunter, of (A); Carlos Silva, rp (NC); Rondell White, of (NC).

NEW YORK: Doug Mientkiewicz, 1b (NC); Jose Molina, c (NC); Jorge Posada, c (A); Alex Rodriguez 3b (A); Mariano Rivera, rp (A); Ron Villone, rp (NC); Luis Vizcaino, rp (B)

OAKLAND: Jeffrey DaVanon, of (NC); Mike Piazza, c (B); Shannon Stewart, of (B)

SEATTLE: Arthur Rhodes, rp (NC); Jeff Weaver, sp (NC)

TAMPA BAY: Josh Paul, c (NC).

TEXAS: Jerry Hairston, 2b/of (NC); Sammy Sosa, of (NC); Brad Wilkerson, of (NC)

TORONTO: Sal Fasano, c; Joe Kennedy, rp; Matt Stairs, of (NC)

NATIONAL LEAGUE

ARIZONA: Jeff Cirillo, 3b (NC); Tony Clark, 1b (NC); Livan Hernandez, sp (B); Bob Wickman, rp

ATLANTA: Julio Franco, 1b; Andruw Jones, of (B); Ron Mahay, rp (B); Chris Woodward, ss (NC).

CHICAGO: Cliff Floyd, of (NC); Jason Kendall, c (B); Steve Trachsel, sp (NC); Kerry Wood, rp (NC)

CINCINNATI: Eric Milton, sp (NC)

COLORADO: Jeremy Affeldt, rp (NC); Elmer Dessens, sp (NC); Jorge Julio, rp (B); Rodrigo Lopez, sp (NC); Yorvit Torrealba, c (B)

FLORIDA: Armando Benitez, rp (NC); Aaron Boone, 3b (NC); Byung-Hyun Kim, sp/rp (NC)

HOUSTON: Jason Jennings, sp (NC); Mike Lamb, 3b (NC); Mark Loretta, ss (B); Trever Miller, rp (B); Brian Moehler, rp (NC); Orlando Palmeiro, of (NC)

LOS ANGELES: Luis Gonzalez, of (B); Mike Lieberthal, c (NC); Ramon Martinez, 2b (NC); Rudy Seanez, rp (NC); Mark Sweeney, 1b (NC); David Wells, sp (NC)

MILWAUKEE: Francisco Cordero, rp (A); Tony Graffanino, inf (B); Geoff Jenkins, of (NC); Ray King, rp (NC); Corey Koskie, 3b (NC); Scott Linebrink, rp (A); Damian Miller, c (NC)

NEW YORK: Sandy Alomar, c; Marlon Anderson, of (NC); Luis Castillo, 2b (B); Ramon Castro, c (NC); Mike DiFelice, c (NC); Tom Glavine, sp (A); Shawn Green, of (B); Paul Lo Duca, c (B); Aaron Sele, rp (NC)

PHILADELPHIA: Antonio Alfonseca, rp (NC); Rod Barajas, c (NC); Freddy Garcia, sp (B); Jon Lieber, sp (NC); Kyle Lohse, sp (NC); Jose Mesa, rp (NC); Abraham Nunez, 3b (NC); J.C. Romero (NC), rp; Aaron Rowand, of (A)

PITTSBURGH: Tony Armas, sp (NC); Shawn Chacon, sp/rp (NC)

ST. LOUIS: Russell Branyan, 3b (NC); Miguel Cairo, inf; David Eckstein, ss (B); Troy Percival, rp (B); Kip Wells, rp (NC)

SAN DIEGO: Michael Barrett, c (A); Geoff Blum, 2b (NC); Milton Bradley, of (A); Doug Brocail, rp (B); Mike Cameron, of (B)

SAN FRANCISCO: Barry Bonds, of (A); Pedro Feliz, 3b (B); Russ Ortiz, sp

WASHINGTON: Robert Fick, 1b (NC)

AL Rankings: http://www.usatoday.com/sports/baseball/al/2007-10-31-elias-rankings-complete_N.htm?csp=34
NL Rankings: http://www.usatoday.com/sports/baseball/nl/2007-10-31-elias-rankings-complete_N.htm