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My $0.02, take with a boulder of salt...
I've commented on the Talent Change Randomness setting (0-200) in a previous post. Basically if you want draft crops with more certainty (AKA less dev variance/less realism) then reduce this number. If want more late round surprises then increase it. IMO keeping it at the default 100 setting ensures a good mix of some draft certainty with a fair number of late round surprises.
Batter & Pitcher Aging: I'll keep these pretty close to the default 1.000. I think the reason for lowering them was to reduce the number of age 30-32 performance drop-offs, but with the settings at 1.000 it's not uncommon for stars to retain their elite performance at age 40-42. I'm concerned that reducing these numbers too far below 1.000 will lead to too many age 40 players retaining their talents, which is both unrealistic and a problem for blocking younger players.
Batter & Pitcher Development: I have no strong opinion here, but keeping this close to 1.000 seems to work well. It seems to me this setting would work closely with batter/pitcher aging. If you lower the aging ratings you'll have more older players with retained high ratings, so you might want to reduce Batter/Pitcher Development in an attempt to ease the inevitable logjams in the minor league systems from young players being blocked.
AI Evaluation: I like Ben's idea of a higher focus on current ratings (versus actual performance) so the AI is smarter with it's contracts and lineup construction when doing a solo league. That system does not work particularly well for on-line leagues though. I've done some tests with various extreme settings and they do not appear to have a tremendous impact on AI behavior, which was disappointing.
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