I don't come to quite the same conclusions from this thread that you do. Yes, D range is still important, even after the update. IF range is more important than OF range. I would still put my worst defensive OF in right, except against a lineup of predominantly left handed hitters, and I would put my best defensive outfielder in CF. I use a grossly simplistic rule of thumb for measuring the relative merits of offense and defense which jfranco77 is too smart and too sophisticated to use, although it's good for my simple brain. I look at the differenbtial in runs created (RC) and then compare it to the differential between + and - plays between two players of comparable price, all other factors being equal (which they usually aren't).
Let's say there are two $6 MM OF's and the one with the good offense has 120 RC's on average in his SIM history and the defense-oriented OF has 80 RC's on average. That's a differential of 40. Let's say the offensive OF has no plus plays and 10 - plays, and the defensive OF has 20 + plays and 0 - plays. That's a total differential of 30. Assuming that each + or - play is worth one run, which it isn't (as indicated above, the number is slightly lower than that for IF's, quite a bit lower for OF's). But even using that grossly oversimplified approach, the offensive OF would be worth 10 "more" runs than the defensive OF. (40 differential v. 30 in that example)
I don't recommend this rule of thumb, and it obviously ignores the composition of the rest of your lineup, your home ballkpark, your pitchers, your competition and a lot of other factors. But it's one way of looking at the issue.
Having said all that, even though it can probably be proven that in most cases offense is a little more valuable than D range, I still have a weakness for big range fielders, especially up the middle. Obviously the best bargains are reasonably priced players who excel at both offense and defense -- Carlos Beltran in the OF (good for steals, too) and Terry Pendleton at 3B come immediately to mind.