I would figure that since in the hitting catagories HR influences both R and RBI a higher value would have to be assigned to that rather than to the others. and since SB are rare there would be a lesser influence on those. Then on the pitching side ERA and WHIP have a slight cooralation as well.
Would it even be possible to develop an accurate formula to predict this or am i just talking over my head?
Actually it's quite the opposite. I understand what you are saying but .. What make's Jaun Pierre or Luis Castillo so expensive?
I look at two main thing's when selecting/drafting/ranking a pitcher. Ratio and Team stength. Also Ballpark's play huge. I love NL West pitcher's because of Pac Bell, Chavez Ravine and Qualcomm. Just bench them in ther annual one or two start's in Col. I imagine Livan Hernandez's number's will go through the roof now that he is out of Pac Bell, and I don't mean his win's.
Also Era has no correlation to Ratio. Ratio is the best study of what a "pitcher" is doing. ERA is what a "team" does, though it is assigned to the pitcher. If a pitcher leaves the bases loaded his ERA is 0. Last year Ishii had a horrible Ratio but his ERA was good because LA had a quality team behind it. (Then he got smacked in the face)
Bottomline is .. there is no way to project win's, .. no formula .. just homework and matchup's. IMO