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Here are some basics.
I have every team from K15 on a excel spreadsheet. I then use Runs Created for hitters and pitchers equivalencies(takes into account HR's, hits, walks allowed, etc) along with the ERA.
I originally did this to compare teams and get estimated number of wins. This year I decided to convert my number to a PB equivalent to check the accuracy of it, with adjustments for defense and position.
I was actually surprised that it was pretty accurate.
As long as we take a players position into account there is no way to 100% accurately portray all players. Any player with combo positions and roles will have some variance in thier numbers.
If a player has 100 games in the OF and 25 games at SS, what position do you consider for his PB rating? That is the crux of the problem, as SS is worth more in value than the OF.
If the cap level that is set affects 10% of the teams, then its doing its job. Thats the bottom line. Remember that no one method is perfect for assigning a number value to a player. If it were we wouldn't need the huge amount of statistics that are now out their.
I do hope for some minor tweaks in the future, but what we have now is pretty accurate.
Oh, by the way, I'll trade you a FA pick for Morris, thus you don't have to release him.