So is the difference between Toronto's Gold Glove defense and Kansas City's Little League defense.
Defense is mostly taken out of the equation when you use peripherals to judge a pitcher.
How exactly are his peripherals better than Lincecum's? He has a better walk rate but that's pretty much it, Tim beats him in every other category.
Lincecum also has a 2.33 FIP to Vazquez's 2.73 and has faced pretty comparable opposition (Lincecum batters faced .725 OPS, Vazquez batters faced .731 OPS). Pretty much disagree that Vazquez has displayed better actual talent this year than Lincecum.
HR/FB is as luck based as BABIP so that isn't a strength. FIP isn't really much better than ERA because it fails to correct for HR/FB. Instead of HR/FB or HR/9 I'd look at GB% which tells a much better story.
Lincecums xFIP is 2.93 this season, his GB% is 46.4%.
Vazquez's xFIP is 2.91 this season his GB% is 42%.
Their skillsets are extremely close so you could easily go either way once personal preference come in. But if you are going to base it just on some random stat I'd much rather use xFIP than anything else like WAR, tRA or FIP which are all biased by ignoring HR/FB. Of course the reality is the voters are looking at what happened and not at skillset so Vazquez isn't really in the equation.