It makes me crazy that people are discussing the opt-out clause as though it is good for anyone besides Price.
If Price performs above expectations for the first 3 years, the opt-out wipes out a favorable contract (which could be traded, if you don't want to gamble on Price staying healthy and effective in his mid-30s). If Price performs below expectations, however, we are stuck with him for 7 years. It's a lose-lose proposition for the club, and the only way it's worth doing is if it brings down the total value of the deal. And I doubt that's the case -- this is a lot more money than Scherzer got on a present-value basis (i.e., applying an appropriate discount factor to Scherzer's deferred money), and there's more free-agent pitching talent available than there has been in years.
It's going to be fun to watch Price this year, and there's something to be said for overpaying to get the guy you want most. I understand why other people are excited about this deal. I don't understand why that excitement is causing people to engage in logical contortions to pretend that a clause that is obviously bad for us is somehow good for us.