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Pretty simple: bullpen needs lefties, rotation doesn't.
Based on Mariner track record, RRS would keep the job; based on 2010 performance, Vargas would keep the job.
Both are 27.  RRS has 271 MLB innings over 4 seasons; Vargas has 237 MLB innings over 5 seasons.  Biggest difference: Vargas was quite bad in 06 and 07, losing a spot in the Marlins rotation and then badly muffing his chances to break into the Mets rotation.  Then missed all of 2008 due to hip labrum and elbow surgeries.
There has been some discussion that he "wore out" as the 09 season went along.  Indeed, when he came back in Sept. and was used only in a bullpen role, he seemed refreshed and struck out 9 and walked 0 in 12.0 IP, which foreshadowed his strong start this year in that department. 
http://www.baseball-reference.com/players/split.cgi?n1=vargaja01&year=Ca... 
RRS has steadier overall numbers, but Doc has strongly pointed out that he loses a ton of effectiveness once his pitch count and batters faced climbs in later innings.  And he does have an 8.6 K/9 split as a reliever.
http://www.baseball-reference.com/players/split.cgi?n1=rowlary01&year=Ca...
It's a tough call, but really (assuming that Vargas has put his ugly period behind him) it looks like they can't go too wrong either way.  Both guys ought to contribute as long/middle guys in the pen.  I assume it will be Vargas just becuase RRS will be considered the "incumbent."  Vargas also has a better split vs. LH hitters, making him a better fit for a situational role. But they could swap by the end of the year.