Thanks for the kudos, 2times! I can't wait to read cwebb's reaction when he sees you calling me reasonable, though...

Anyway...
I think Kendall is no more of a health risk than any other catcher - maybe less, since he may still see time in the of which would reduce any risk of injury. Sure, injuries can happen, but he's a stud who wants to prove something this year. His steals may be a bit disappointing, but he should bounce back in the other categories.
No definite word on Marrero as of two minutes ago. I'd give this about a 15% chance of happening (which is actually pretty high for a rumor like this). O'Dowd is certainly not disinclined to deal (putting it mildly), and it might help both sides if the Rockies toss the right package together.
You're right about Biggio and Nomar - I like Nomar more for this year, though.
Shuffle Ventura and McLemore according to matchups. I agree with using Ventura more, but keep in mind that he'll be on a pretty short leash.
Yeah, Boone will fall off, but it won't be a disaster.
As for your last util slot, it depends on how Lofton does. If he seems motivated and is getting on base, use him.
Sabathia scares me. I was never on his bandwagon to begin with, and his weight trouble doesn't help. That's just my opinion, though - lots of folks like him more than ever. Of your other starters, I think they'll work out pretty well, although Lawrence may fizzle as the season progresses.
Yes, Benitez isn't in the greatest shape, but he'll be fine. The rest of your pen is stellar (I'll hold the Rocker comments).
I love your strategy as long as you make absolutely sure you use up all your innings. This shouldn't be much of a problem with a 1250 limit and ten slots, though. I don't even see you doing that badly in wins - the relievers aren't bad in w/ip. Depending on how many innings you use, you may even want to shift to 2-3 starters / 7-8 relievers later in the season.
I have to admit I'm biased, though - I'm a huge fan of stacking the pen with high k/ip guys. In a league I drafted tonight, I picked up only two starters and ten relievers (holds count too, though). Anyway, the strategy can do well, and your players should make it work out very nicely.
Stick with Ventura and McLemore for now, but keeping an eye on Randa is a good idea - he's being overlooked by far too many (perhaps due to all the rookie 3b's). Hitting .300 seems to be expecting too much, but it's certainly possible. Expect .290 or so.
Your power depands on how well your infield does. You're right - another power bat in the of would help, but Cedeno may be too valuable to trade unless you pick up a truly great player in return.
Steve Cox makes for a good sleeper, but he's far from a sure thing. He'd make a decent side dish in a trade for Gonzo. In such a trade, I'd try to move Wilson rather than Cedeno, if only for the fact that you have enough question marks already. Start with an offer of Biggio+Wilson, and see what happens.
Anyway, I hope that covers all your questions. I like your thinking about using your league's rules to your advantage. I think the inning cap will wind up being even more important than the 7x7 scoring - those 1250 ip will get used up very quickly with so many slots, which could lead to some very nice trade opportunities in the final quarter of your season. One idea that might work is conserving your innings by benching sp's even more than you planned, and then picking up some true stud sp's from teams at or near the limit later on for much less than they're worth...