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Erskine Signs For... Wait For It... $2.5 Million

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John Erskine's two-year contract extension will pay him $1.25 million in each of the next two years. To what does he owe this 127% raise? Here's a bit of what he did last season:
To be fair, he did some good things in 2007-08, but I just don't see how it makes sense to sign a 28-year-old third-pairing (at best) defenseman with Erskine's "upside" to this deal at this time. Was there really a huge risk that he'd play himself into much more than a $1.25 million defenseman this season?

The bottom line is that Erskine wasn't even a good value last year at $537,500 - is he going to be one at more than twice that cost next year and the year after that?