I think this has a lot to do with the talent base in your particular league. In my league, this guy is a pretty very decent starter, but I believe our league started with lower player talent, especially on the pitching side.
What others have said about evaluating pitching is correct, controll and splits are most important, and it is almost as important that a guy have one good out pitch, the higher the better. A respectable complimentary pitch or two is then the next most important thing. Velocity doesn't matter much. Guys with one very very high pitch and a very high GB rating can be effective too if the other numbers aren't terrible.