Some Cy Young discussion in one of my worlds led me to look back at RL Cy Young Award winners and their respective WHIPs (A candidate in the world was being propped-up that happened to have a decent ERA, but a 1.31 WHIP).
I haven't found a comprehensive list that has the Cy Young's and their WHIP on the same list, so I haven't checked every winner, but spot-checking all of the high-ish ERA winners, I found  that the winners pretty well all had at least respectable WHIP's (a couple 1.25, a decent number of sub 1.10, and sub 1.00, a lot in the 1.1ish range), but then I looked at the 1982 AL Winner: Peter Vuckovich.
Dude had a 1.502 WHIP!
By any metric, other than Wins, he should have been last amongst AL-Vote-Getters, but he had (14) out of (30) first place votes (most by 10 votes).  Even in Wins, he was tied with the 2nd worst candidate (at 18) and only one ahead of, arguably, the best or 2nd best candidate.
So, my question is: 
How many Handy's did good ol' Pete pass out in 1982?

In theory, players stagnant if kept at a level too long. I can't say for sure if that's true but that's what we're told.   I always have legit prospects in AAA by their 4th year and often by their third.    They may be in AAA for 3 seasons.   I've not seen any ill effects from that but I've not kept anyone of any value there for 3+ seasons.

Sure.  Send him thru waivers.   If he gets claimed, good for you.  If he doesn't, put him in AAA as injury insurance.   If you're going to pay him, there is no point in giving him to someone else for 327k.