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Vargas notched a QS in 21 of 31 starts last year (68%). Fister did in 13 of 28 (46%). If we can bank on similar performances, these two are definitely championship caliber 4-5 starters. Don't need anything more, just enough to give you a chance to win some of the backend rotation games in the regular season.
Felix is the ace of aces, Pineda should be fine as a #2.
Bedard is really the wild card. If he falls to 5.00 ERA pitching or gets hurt again, the M's are at a severe disadvantage. If he's pitching like his days in Baltimore, the rotation can go up against any other rotation in the AL.