Despite what Webb is doing in AZ, Lincecum is definitely having a better season. Of the 3 major categories that writers look at currently he is tied for 2nd in W, 1st in K, 1st in ERA. Webb on the other hand is 1st in W, 7th in K, 6th in ERA.
In addition, Lincecum is 4th in IP despite pitching out of the pen one game early in the season otherwise he could be leading the league in that category as well. Webb is 2nd in IP.
Granted CC and Harden have been amazing since their crossover, I just don't feel like they'll log enough IP for voters to look beyond what Lincecum has done on a crappy team this year. To be 15-3 with all the eye popping numbers on a 59-74 team is nothing short of amazing.
Another interesting thing to look at is that Webb won the Cy in 2006 with a 16-8 record. His numbers overall were actually worse than what he is putting up this year.
"Think of how stupid the average person is, and realize half of them are stupider than that." ~George Carlin