L K said:
Santana intrigues me. He has an AL pitching track record. He's pretty much a lock to give you 200 IP which is crucial to keep a fantastic bullpen energized down the stretch. His numbers in terms of ground ball percentage are pretty solid among the AL pitchers, which bodes well with an infield of Lawrie-Reyes-Goins.
He's probably more of a #3 starter than anything else, but I think the Jays could really use another reliable arm.
I don't disagree with any of your analysis specifically but I really question whether any of the available FA pitchers are difference makers to the degree the Blue Jays need. I really think that if the Jays are going to make up any ground here it has to come from guys like Drabek or Hutchinson taking major leaps forward, even if that's not all that likely, so I still think my preference is going to be to give those guys every chance to make the rotation.
edit: Also, I agree that Santana would be my choice of the remaining FA pitchers but I also sort of think he's the guy who will get a contract that will raise a few eyebrows. I can't help but think that one of the Tanaka runner-ups will make a big run.