I'd always be wary of Wins projections. It's generally a bad idea to draft because of wins anyway. Go for the guys with low ERA's and low WHIPS and hope the team produces for them, wins are too variable (To an extent of course, if you have a low ERA and low WHIP your team will either be ahead or in the game, giving you more wins.)
I think the projection for Wood's wins was too low. If he's on for a full season, he will be deadly. Remember, he avg's over a K per inning, so gauging amount of K's he'll have his simply a guess on how many innings he'll pitch for the year.
As some have said he's a "risk", but this risk is pretty much a guranteed 140 IP, 140+ K's, ERA around 3.50 (He's posted these #'s or better the last 4 years.)
...Boston papers now and then suffer a sharp flurry of arithmetic on this score; indeed, for Williams to have distributed all his hits so they did nobody else any good would constitute a feat of placement unparalleled in the annals of selfishness. -Updike