GM Jed Hoyer told MLB.com's Corey Brock that the Padres may still add a reliever, a backup catcher and a left-handed hitter (Twitter links). Hoyer said last night that his team has a payroll in the mid-$40MM range and some money to work with.
The Padres have traded away Adam Russell, Cesar Ramos, Ryan Webb and Edward Mujica, so the team's bullpen - a major strength in 2010 - is not as deep as it was a year ago. Early in the offseason, Hoyer told MLBTR that he would likely do his "damage" later on in the winter and it appears that the time has come to add a bullpen piece.
The Padres lost backstop Yorvit Torrealba to the Rangers and will rely on Nick Hundley to catch regularly. Former Mariners Rob Johnson and Guillermo Quiroz are possibilities to back Hundley up, or the team could add another catcher.
Bengie Molina and Gregg Zaun are the most recognizable free agents remaining, but teams like the Angels and Yankees have considerable depth behind the plate and are potential trading partners (though that's entirely speculative).