A guy who put a 3.3 and a 3.9 ERa the last two years and is making 11 MUSD is overrated and overpaid?, besides, is not like he would be here for 7 years or something, if he shits the bed, Cya in 2013 or take the option, as simple as that.
I think that it could workout if we give him the 4th Spot, and who knows, if he continues that tendency, bingo! you have another SP for the coming future.