Considering the Sox haven't gone into a season with Wakefield as a plan A since '09 and Miller has been even worse, I think its pretty unlikely that they go into a season with Wake or Miller penciled into the rotation. If you think Wake/Miller would be a better option than a healthy Bedard, you're beyond help. If you think it will just be the more cost effective/likely move, want to explain why? Like I said, it's been a little while since Wake has been in the rotation out of ST and for the past two years he's been a back up plan. Miller has never proven he can go out of the rotation in the majors. Not sure why anybody thinks the Sox would go with such a bad back of the rotation.
Bedard has had an injury history, but this latest bout with shoulder problems is less scary considering he's still pitching in september, looks good and that in recent years there has been a lot of progress in treatment of labrum/other shoulder injuries. Look at Chris Carpenter.
Your other two points make zero sense to me. I don't know if you're in the Sox clubhouse on a regular basis but saying he's a malcontent seems pretty much out of no where. He seems happy, says all the right things and Boston is one of his favorite cities to pitch in. So because he isn't the most emotive guy in the world, he isn't a good investment? Lol. What? That doesn't matter at all. It's his style. You'll never see a team field an entire roster of Beckett/Youk/Pedroia types who are fired up emotional competitors. Every guy has their own style. Bedard is a bit more subdued than those guys. What does that have to do with his onfield performance? Speaking of which, he's not elite? When he's healthy, he certainly can be. Erik Bedard's career ERA+ is 120. Compare that to Verlander ( 124 ), Sabathia (125) Cliff Lee (116) and Beckett (116). He is certainly capable of pitching at a very high level I think.
Sure, you can say all day that health is a big "if" with him but if thats all you have against considering a Bedard re-signing, thats weak imo. The Sox have access to his medicals and have the opportunity to examine his every pitch under a microscope for the duration of his stay in Boston this season. While his health is a valid question mark, if they feel comfortable investing 8-12 mil per year over two or three years or whatever the case may be, obviously they've seen enough to feel comfortable taking a gamble on his health. I'm ok with that. Since they've got a lot more information at their disposal than we do, if they do pursue him, I'd say they feel confident in his health, and I would have no problem with Bedard on the Sox for the next couple years. There aren't going to be a lot of better options.
Lackey has proven to be a bottom of the barrel 5th starter at this point with the potential to get back a bit closer to his career norms. The other three guys we know are complete locks, beyond that, there really isn't a good option for SP within the organization. Nobody we can count on for slightly above average or solid production over 175 - 200 innings. Maybe Bedard has that in him. I'm not 100% on the re-sign Bedard bandwagon, but there isn't a compelling argument for letting him walk.