Via Baseball Analysts, who love their charts: http://baseballanalysts.com/archives/2008/01/payroll_efficie.php

The Mariners paid slightly more money for their wins than the median trend line.  I keep seeing stuff about how the Mariners are overpaying for their team, and I thought it was interesting that we're about average.  Of course, Detroit got the same number of wins for a bit less money, but at least we're not the Orioles (65 wins, $95 million).