Finding good pitching is never out-dated... it's just that most of the good ones are being found by everybody. :p
So, I went back and looked at Schandler's original standards for LIMA pitchers: (K/BB>2.0, K/9>6.0, HR/9<1.0). Then I added my own stipulation that anything less than 150IP isn't worth looking at.
Using the rotochamps projections, I've got a list of 47 AL/NL pitchers, most of whom are going to be drafted WELL before the LIMA "value" kicks in or bought at auction for quite a bit more than he recommends.
Notable names that pop up that are outside the top-200 of the MDP thead above:
Jhoulys Chacin (NL)
Colby Lewis (AL)
Edwin Jackson (AL)
Derek Lowe (NL)
Randy Wells (NL)
Anibel Sanchez (NL)
Travis Wood (NL)
Jason Hammel (NL)
Tim Stauffer (NL)
Brian Matusz (AL)
All of these guys have obvious question marks, and none of them are projected for more than 12 Wins or an ERA under 3.50, so you're going to need to add at least a couple of aces early in the draft/auction. You'll notice that at least three of these guys are in the NL West, so are probably going to be targeted by most people already simply because of the "easy" innings they'll put in.
In a H2H league I could easily see grabbing a bunch of these guys and using the best matchups every week... in a roto league you're basically punting Wins with this strategy. If you can't get upwards of 70W out of your top-5 starters you're not going to be close to the rest of the league.