David Pinto has a good take on Jeter's defense over at Baseball Musings (he uses the win shares method to make his case):

"Jeter is the worst regular shortstop in terms of defense over the last five years. And it's not just that he's at the bottom; he's way below the level that keeps shortstops playing. Long time readers of this site know that I've pointed out specific plays where I've seen the ball come off the bat, expected an out, and Jeter doesn't get to it. I have advocated moving Jeter to another position. His lack of defense (and Soriano's, for that matter) cost the Yankees against the Angels last year. Most of the time it doesn't matter because he makes up for his defense with his bat. But against a team that puts the ball in play a lot, I don't want Jeter playing shortstop."