Yes i'm going to get flak by stat heads but when I looked at the formula some things don't add up.
NIBB = Non intentionall base on balls is a better value to the team than a hit by pitch. You cannot tell me that a free pass by four balls at the least is more valuable than a free pass to first base by a single pitch.
A single should have more value than a reach on base by error, and a reach on base by error is a defensive miscue. That is a stat that relies on the other teams miscue, it's a situational stat that should not count towards how good a hitter is.
wOBA to me is a flawed formula.
3 stats that I think should be added to the formula for any advanced production stat are. IBB, I think OPS might have this, Infield singles (yes, it should be a sepearate stat than a outfield single, as I find infield singles less valuable. The last stat which should come into a formula is pitches per at bat.
Maybe i'll try and come up with a stat of my own, (and get called how stupid and flawed that stat is).
Anyways these are my thoughts.