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The comparison between having Engel and a rule 5 player is very apt. Rule 5 is tough, these players weren’t added to their respective teams 40-man rosters for a reason and they have had years to look at them. Worthy of a flyer, sure, but nothing to plan more than the 25th man on the roster.
I tend to favor relief pitchers with Rule 5 picks, because it seems that if you can find a guy with a live arm sometimes it just clicks. Also, you can manage the leverage of their appearances to aid in their development. Whereas, if a hitter has a history of not doing a lot, that’s not likely to change.