2004 Pat Borders: $1,134,555 for 55PA of .487OPS. Yes, he has an A+ arm, but his $/PA is $20,628, the 6th highest of any catcher in the entire WIS database.
Also check out the 1969 Azcue (55PA), 1974 Humphrey (59PA), 1965 Roof (61PA), 1980 Stimac, 1964 Duncan, 1965 Gonder, 1964 Ranew, and many many others.
Simply put, if you are a low-PA catcher with an A+ arm, you are now extremely overpriced. Makes no sense. All of the guys listed above are in the top 30 most expensive catchers in the WIS database on a $/PA basis. Prorated to a full-season, Borders would cost more than $10M.
Something is very wrong in the pricing algorithm for A+ arm catchers.