Well, first I would like to know the keeper structure of the league. This is a draft league, right?
If there is a deep keeper structure for your roster, then I would say DO IT!!! ARod is a great talent, but he's in a powerful Yankees lineup that will spread the stats from 1-9. ARod isn't an island in the lineup anymore, so it's doubtful you will ever see his monster numbers he produced while with Texas.
As far as the 5 players to take...
A Gordon (replace ARod)
S Drew (replace Renteria)
T Lincecum or A Loewen (depending on whether you want to boost your rotation this year or hold off for the future)
This deal actually helps you both this year and in the long term. In another post, I stated that you might want to look into adding depth and some power to your OF. This trade definitely does that for you with Young and Markakis. Plus you will be able to place 2 young stars on the left side to fill the gaps voided by the proven vets you're giving up. I would definitely jump on this trade.