The White Sox traded Jason Frasor to the Blue Jays for Myles Jaye and Daniel Webb.
Frasor will make 3.75 million in 2012, and had a 1 WAR in 2011. Over the last 3 years, he has a WAR average of 1.13, which would be a WASP of 3319, slightly above the Halladay Standard. He had a -1.03 PE (-.54 Adjusted PE) in 2011, with a career PE of -.978 (-.975 Adjusted PE). His FIP - was 100, which is about league average in 2011. SIERA liked him quite a bit more, at a 3.56, but for just the second time in his career, he gave up more flyballs than groundballs. This could explain why his BABIP was slightly higher than usual (.304 against a .288). He also gave up the most HR/9IP since 2006, a further sign of some kind of regression. It is worth noting, however, that he pitched well if the BlueJays in the first half, but pitched poorly (a 0 WAR) with the White Sox after being traded at the deadline. For whatever its worth, the Bill James projections have him at a 3.69 FIP for 2012.
Jaye has spent 1 short season in rookie ball, making 9 starts in 13 appearances after being drafted in the 17th round. There he had a -1.63 PE, had a decent walk rate but gave up 1.2 HR/9IP.
Daniel Webb has only pitched in A-ball, and has pitched mostly as a starter. He has been pretty bad, with a PE of 3.37. He has kept the ball in the ballpark and hasn't walked too many batters, but still has a BAA of over .280, despite having a reasonable BABIP. He was a hitter in college at Illinois, and had a .903 OPS, which would translate to a .653 OPS in the MLB according to our college metric. So it seems it was the right choice to change him to a pitcher, but it is not like that experiment is going real well either.
So the White Sox get two pretty inconsequential minor leaguers without too much promise (Jaye is certainly better than Webb though), while the Blue Jays get a slightly overpaid apparently regressing reliever. I guess the White Sox have a small advantage in this trade because they cut payroll, but I don't like this trade for either team really (although if Frasor returns to form, it could be advantage Blue Jays).