We agree that closers are overvalued in general.
I had this debate on the Reds thread a few years ago with 14Red and found that as an MLB average around 82-83% of save opportunities in the 9th inning were saved. The better guys are in the 86-90% range. Easy examples - last year Alexis Diaz was 28-32, so 87%. Hader, Iglesias, Yates, Foley, Jansen all in that range. Clase was 47-50 = 94% - elite. Same with Helsley (49-53 = 92%).
So the difference between an average closer and a good closer is 4 or 5% annually, so 1-3 wins extra per year. It is not worth spending a ton of money on a closer, unless you have a special one.
Only a few are special and can do it at that percentage for 10+ years. Like Wagner. He did it for 14 years around 88% with an ERA of 2.3 and a WHIP under 1.0. He belongs in the Hall. Why it took 10 years is beyond me. Probably upset a few sports writers with snarky comments and they got their feelings hurt.