Three Yankee pitchers took small, but significant steps on their way back to good health on Tuesday. Phil Hughes (broken rib) and Carl Pavano (reconstructive elbow surgery) made their first rehab starts since their respective injuries, while Chien-Ming Wang had the cast removed from his right foot.

The 22-year-old Hughes allowed two hits and a walk in three shutout innings for Class A Charleston, while Pavano allowed a hit and a walk in two scoreless innings.

Joe Girardi said that Hughes has the best chance of the three recovering pitchers to make an impact for New York this season, though Wang could make a push to be ready in late September and for the playoffs.

A free agent at the end of the season, Pavano would certainly have motivation to return before the year is over, perhaps riding in on his white horse Roger Clemens-style to help boost the Yanks into the postseason and saving a little face after wasting four years and $40 million. But if I’m the Yankees, I don’t risk pitching a guy who has only thrown 11 innings in the big leagues over the past two seasons, all coming in 2007.

So if you’re the Yankees, what do you do? Do you go the optimistic route and hope that Sidney Ponson and Darrell Rasner can hold down the fort until Hughes and/or Wang return? Or do you pick up some insurance in the form of a trade, shelling out for Jarrod Washburn or another pitcher?

The truth is, there’s no guarantee that their injured pitchers will return this year. And even if they do, how effective will they be? The bet here is that the Yankees make a trade, if not by July 31 then before the waiver deadline passes.