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Supposing that you had an imperative to
(1) Re-sign Bedard, because he'd sign for 50c on the dollar, and because you want to win playoff games rather than appear in them, and
(2) Bring in as much hitting as you would without re-signing him.  How would you do that?
You'd have to trade Fister or Vargas (or Paxton!) for a club-controls hitter that would bring a big WAR/$ value --- > compared to a FA signing.  
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I don't know.  If you're a cash-strapped team, would you rather sign Erik Bedard in a bidding war ... or would you rather have 3-4 years of Doug Fister at club-controls discounts?  For somebody like the Royals or Padres, Fister is the only option, right?
And I can see Tom Tango calculating that Doug Fister, over the next 3-4 years, is a more valuable commodity than Erikkk as a FA signing.
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Getting a big hometown discount from Erikkk, and then parlaying a young, good SP into a club-controls hitter .... how do you assess that option?
 

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