At this juncture, it appears likely that Feliciano will end up under the knife. I suppose I may be leaping to conclusions, but the persistent setbacks and the sentiment expressed by Girardi and Cashman seems to indicate the worst. Should shoulder surgery be necessary, the recovery period is usually ten to twelve months - Damaso Marte is a fine example of this, for better or for worse ... or much, much worse.
For me, this may very well be the straw that broke the camel's back with Cashman's off-season. In addition to whiffing on most every viable starting pitcher on the market, Cashman overpaid for a lefty specialist (relative to this off-season) while other similarly talented arms were available. And now, to add insult to injury (or injury to insult, I suppose), Feliciano may be severely damaged goods. I am grateful for the system's depth in solid candidates for the bullpen - but the team should not be in this sort of position in mid-April.
Here's hoping that my pessimism is unfounded, and that rest and rehab will have Feliciano ready to go sometime soon.