Re my previous post, this is the link that I meant to quote, re arm/range studies for catchers and outfielders.
The overall conclusions from the simulations mentioned in this thread is that the arm/range effects are not that large, in terms of runs allowed.
My argument is more empirical/andecdotal. For now, I'm just looking at my actual gaming experiences where my main catcher had an arm of -2 or better.
I'm a bit of a late convert to the value of a strong catcher arm. I've only had 10 teams in 200X (not including keeper or theme leagues) that had a catcher arm of -2 or better. But those teams have significantly out-performed my overall teams for those leagues. For the 10 teams with catcher arms of -2 or better, they've averaged 89 wins, they made the playoffs 8 out of 10 times, and won the championship 3 times. One of those 8 playoffs was in a 24 team league, back when only the division winners made the playoffs. 3 of these teams had Y.Molina at -4 (in 3 separate card years!), 3 of them had -3 catcher arms, and 4 of them had -2 catcher arms.
I'm doing some experiments with the value of arms, and baserunning. So far, my thinking is that they are more valuable than previously thought. I'm going to keep working on this. If I come up with a coherent theory on the value, I'll share it on this board. I know gamers like DeanTSC have published run production theories that incorporate this, as have other gamers here at strat. Most of what I've heard so far seems to suggest that the value isn't that high.
Keep in mind that those 10 teams that I've had were all in salary cap leagues, 200X, with no themes or keepers. They were all very competitive leagues. So 89 wins and an 80% playoff rate has got me thinking that the value of the "super" catcher arm may be greater than the related salary cost. If I can come up with some ideas that are solid, I'll post them here.