Which would you use a waiver claim for Matt Latos or Chris Young OF? My starters are Haren, Lester, Cain, Masterson, A. Sanchez, G. Gonzalez, Pineda and Peavy (I know, lots of starters). My OF is Cargo, Alex Gordon, Lance Berkman, Grady Sizemore, and Josh Hamilton (who should be back in a week or two). Would probably drop Peavy, as I don't think he's ever going to be the pitcher he once was.
League rules? Number of teams? Keepers? What waiver number?
I like Latos and Young both...a lot. I'd go for both, if I could but Young could be the more valuable maybe. Haren, Lester, Cain and company are pretty dang good and you have some nice upside arms behind those. Meanwhile, your OF has tons of talent but more question-marks than your SP's, I think. So, adding another talent in Young would be my vote. But again, this is a "blind" recommendation since I don't know your situation really.
You don't need Peavy, and Young could help you nicely in the outfield. His average is awful but his counting stats are nice and the average should come up somewhat throughout the season. Leave Latos alone, he is damaged goods.