Right off the bat, I'm not an Orioles fan, but I live in the Baltimore/Washington area. I hear a lot of the complaints of long-suffering O's fans, and I understand the desire to win now, and make a big splash, but I can't seem to find justification in over-spending (both lengthwise and in dollar amount) for Prince Fielder or C.J. Wilson.
The Orioles finished in the top half of the league in most offensive categories while their pitching was the worst of any staff in the big leagues. The Orioles need to continue to develop their young pitching and relieve pressure off of the current #1 and #2 in Jeremy Guthrie and Tommy Hunter.
To me, the answer doesn't lie in signing an unproven like Yu Darvish or over-paying for C.J. Wilson who has only been a starter for two years. As disheartening as it might be to hear, the Orioles need to go with low risk/high reward type players, as well as proven veterans that won't break the bank.
The Orioles have two or three rotation spots filled. Guthrie and Hunter are obviously the two, with Britton being the third. The other candidates start with Jake Arrieta, Brian Matsuz, Alfredo Simon, and Chris Tillman.
The Orioles haven't had a true #1 starter since Eric Bedard, and haven't had a long-term ace since Mussina, but I think they can find a moderately priced one for around 13-15 Mil/Yr, and get an amazing mentor in the process.
With a veteran #1 in place, competition for the #5 spot will bring out the best in the remaining candidates and create a real sense of urgency among those delegated to AAA.
The Orioles also need to address their bullpen, bench, and presence in foreign markets.