To me, it's too weighted with FIP (K-rates). There are damn good pitchers who get more guys out, give up less HRs and less runs, but just don't come close to leading the league in Ks. An out is an out.
I get why people want to value stats that don't rely on park factors and team defense, but to me, it's not as important as ERA-, OPs against and WHIP. Those three stats trump WAR. When the vote for MVP (best non pitcher award), does anyone look at Ks? No, they look at OPS, HRs, OBP, BA, RBIs, SLG but hardly ever Ks. Then, why is it so important for pitchers?
This isn't something I'm inventing or morphing into. I've always valued ERA-, WHIP and OPS against more than ERA, K rates and WAR.
ERA-
70 Porcello
73 Kluber
WHIP
0.99 Porcello
1.06 Kluber
OPS Against
.628 Porcello (.628H/.628A and .659 v RHB/.600 v LHB)
.631 Kluber (.666H/.592A and .615 v RHB/.648 v RHB)
OPS Against High Leverage
.589 Kluber
.598 Porcello
ERA+
151 Kluber
147 Porcello
The one K-related stat I pay attention to is K/BB and Porcello blows Kluber away 6.10 to 3.98.
Sure, K's are fun. A pitcher looks dominating. The batter looks meek and mild, but allowing less hit, less XBHs, less walks and less runs is what great pitching is really about.
All in all, it's pretty darn close.