Get excited, folks!
Michael Martinez is a 28-year old hailing from the Washington Nationals' farm system. He's been described as an "athletic second baseman," who's also played a fair bit of shortstop in his career, and he even picked up an outfielder's mitt for 39 games last year (playing mostly center). So, defensive versatility is a plus here, and you can add switch-hitting ability and speed (58 23 stolen bases last year, though only at a 65.7%% clip) to the positive side of the ledger. [EDIT: apparently I'm incapable of simple tasks like, for instance, copying stats from a player's B-R profile.]
The bad news is that Martinez can't hit... like, at all. He's at a cumulative .263/.315/.368 with the stick over the course of his minor league career, with a .272/.312/.408 line split between Double-A Harrisburg and Triple-A Syracuse last year. Meaning, well, turning Martinez into an acceptable major league hitter would probably be Charlie Manuel's greatest success story.
Still, not a bad flier for $50K. Martinez could make some sense as a 25th man capable of pinch running, serving as a defensive replacement, and hitting along the lines of what Eric Bruntlett did.
The Phillies also selected Rockies farmhand Chris Frey in the minor league portion of the draft. Frey's a 26-year old speedy center fielder with little power, and should provide organizational depth in either Reading or Lehigh Valley. The club did not lose anyone in either portion of the draft.