Don't know really who is out of contract mate, but I'm not sure its the bargain center it may of once been, Bernard for example bled us dry via a signing on fee and huge wages, arguably Jamo too. I suppose it depends on the deal.
Everything depends of the quality of the deal vs quality of the player regardless of age, our recruitment has been so bad and inconsistent from season to season im nervous about us investing - but im particularly nervous doing it January, its a sellers market and we're stupid enough and lack skills in the market not to get stung.
Anyone moving in Jan, you will get on loan with an option in the summer rather then their club looking permanent. There is a reason they are available, elsewise you are paying a premium like VVD or Fernanades. Moyes had the right idea, 6 month loans in Jan and if they were good enough get them in the summer, that's as much as id do personally, us signing players fills me more with fear rather than excitement if im being honest.