According to baseballmusings, Hoffman is the frontrunner to take the hardware today.
May I just say, it would be a travesty... Hoffman's era is less than a run better than Carp's and his WHIP is only .1 better. You have to be a lot better than that if you're only going to pitch 63 innings. Moreover, he blew 6 saves. Izzy led the league with 10 (I think).
It's as if no one can decide between Webb/Oswalt/Carp, so they give it to the fourth best candidate in order to avoid deciding. I think the Cy should be decided by a formula involving innings pitched, runs allowed, and baserunners allowed. Thoughts?