I posted something similar to that and then deleted. I think he might actually be better than that.
In the years that he has pitched significantly in the majors he has the following ERAs:
3.99, 2.37, 3.24, 3.93, 1.70 (reliever), 3.11, 4.88, 6.20, 8.42
He had a 2 year layoff which I believe was Tommy John. Honestly, although I havent seen that much from him this year and really he could be completely cooked (35&+ chance), there has to be a reasonable chance that he is still working back to form, and his form was much better than you say (and I thought). 6 seasons of really very good pitching is hard to ignore, I know he is getting older, was hurt and hasnt shown much since coming back from that injury, but I would stick him in the bullpen and see if he cant at least return to some type of form when he doesnt have to throw 80-110 pitches.
We have very little quality pitching and almost none in the pipeline for next year. We are probably at least 6 pitchers away from competing that we really dont know of the name of yet. I fear we are going to have to take some risks with some of these guys and hope.