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To coattail on some other good writing by others ...
SHOULD a GM be judged SOLELY on performance?  If so, that makes 28 GMs idiots each season, doesn't it?  But, what if a deal that looked good "at the time" ends up imploding?  There's been massive grumbling about Bedard, (and certainly some grumbling at the time of the trade).  But, what has Schmidt done for LA?  Was it idiocy to sign Schmidt?
In fairness to Z ... while I have appreciated EVERY move he's made.  There are certainly some that haven't worked as well as HE would like.  Cedeno and Olson were JUST AS MUCH guys Z had confidence in that Guttierez is.  Z ... like *EVERY* GM, has had some winners and losers.
Branyan, Guttierez, Aardsma ... even Griffey to a fashion were all pre-season picks that worked.  During the year, Langerhans and Hannahan are clear upgrades.
But, also on the Z list ... Endy Chavez, Cedeno, Olson, Vargas, Woodward, and Sweeney.
However, I believe the picture of both Vargas and Olson has been FANTASTICALLY more negative than either has deserved.  You'd think having lived through Feierabend, HoRam, Silva and Weaver that there would be a LITTLE reasonableness when speaking of ZERO COST 7/8 pitchers.  Remember that Olson and Vargas were NOT the original plan.  The original plan was RRS and Silva and Morrow as the top fallback. 
I haven't heard ANYONE defend Olson and Vargas based on the reality that neither was a 4/5 SP.  They were 7/8 SPs.  What's the #1 criteria for a 7/8 pitcher?  OPTIONS!  Options and zero cost.  Yes, Jack could've held on to the expensive swingman instead.  But, Jack is looking at BOTH now and tomorrow. 
I think what sticks in my craw most about the patter on Olson and Vargas is that they have repeatedly been described as anything from useless to pointless and beyond ... (all bad).  Yet, up thru July 16th BOTH had a better ERA than Morrow, (and Vargas still does).  The basic take on BOTH pitchers is that they are utterly completed products, with zero chance of being anything more than they are today.  Meanwhile, Morrow gets a complete pass by everyone, who continue to pretend that he's destined for greatness.
The truth about Morrow?  As a rookie, he ran a 1.67 WHIP.  Olson's WHIP *TODAY* is only 1.44 and Vargas' 1.43. 
What bugs me about the whole Vargas, Olson, Morrow dynamic is the complete and utter disdain for any performance that doesn't match pre-disposition.  Without the names, which pitcher would seem a better upside, if given these stats:
2007 - 7.79-ERA; 2.16-WHIP or 4.12-ERA; 1.67-WHIP or 4.03-ERA; 1.38-WHIP
2008 - 6.65-ERA; 1.73-WHIP or 3.34-ERA; 1.14-WHIP or 7.33-ERA; 1.86-WHIP
2009 - 5.88-ERA; 1.44-WHIP or 5.28-ERA; 1.78-WHIP or 5.08-ERA; 1.43-WHIP
Who has the best K/BB ratio THIS year?  (Vargas)  Who has the better HR/9? (Vargas)
Yet, everyone continues to dream that Morrow will magically "get it" someday, (while simultaneously claiming there is nothing to 'fix'). 
In truth, Z didn't "miss" with Vargas and Olson.  They were GRAND SLAM HRs -- because they were added because the Seattle farm system was completely devoid of IMMEDIATE fall-back SPs.  But, fans (and pundits), aren't really interested in anything other than stars. 
Jack was hoping for more from Cedeno.  He gave him all the rope he could ... and then he went and got something else to try.  But, even where he missed, he was thinking 2 moves ahead.  He gets Cedeno to backup Yuni, (low confidence?).  He dumps Yuni, and gives Cedeno the job, but Cedeno fails.  BUT, Cedeno was a contract he could dump easily.  Picking up Wilson is a little higher risk, (more money and time), but that move is made with a slightly higher confidence in understanding the whole picture. 
It's not that Jack hasn't failed with some picks.  It is that thus far, he hasn't been STUCK with a failed pick.  Snell is probably his first real gamble in that regard.  The time and money there is such that a complete failure by Snell actually hurts the club beyond immediate returns. 
But, of course, Snell has a rough 13 innings, and the wailing begins, (though Morrow was posting a 6.1 BB/9 in 46 innings, and today most are STILL convinced he'll turn it around).  Why does Morrow get an entire summer to find HIS control, while Snell is with the team for 10 days, and people are asking "how come he isn't fixed yet?" 
You're spot on Doc.  There's a major shortage of reasonableness, (and even shorter supply of patience), when it comes to the Ms.