i don't think cordero is underrated, if anything i think he's overrated for this year because of the number of saves he got in 05. last year i would agree that he was underrated and some people weren't sure about him cuz there was luis ayala in the picture, but most of the ayala talk was LBJ's fault who kept insisting that cordero couldn't keep him job cuz ayala was a much better pitcher.
the nationals were involved in a lot of one and two run ball games. they finished 4th in save opportunities in the major league last year, with 69 save opps while winning 81 games, the red sox won 95 games, but only had 57 save opps. the nats should continue to get the save opportunities cuz they won't have a good offense in 06, again, and their pitching staff should be decent and keep the team in a lot of ballgames. the problem with the red sox is that...when they win, they usually win by a bunch and their closer doesn't get the save opp. however, to expect the nats to win as much games as they did in the first half of the season is unrealistic.
now, cordero is good. i think he's a very good fantasy option at closer, but he's not a top 5 closer for 06, nor he's worth to be taken top 50 overall. cordero's WHIP at 0.97 last year was very good, joe nathan had the same 0.97 WHIP, but his ERA was almost 1 point higher while giving up half of the homers cordero gave up, and striking 33 more batters in 4 less innings of work. i'd be a lot more comfortable drafting nathan than cordero in 06.