I like the WHIP statistic. However, it has limitations. According to WHIP a pitcher who gives up a 2 out homer and a pitcher who gives a 2 out walk are the same thing. We've already gone over this. It's takes no accounting of pitchers who are good at getting out of jams, etc.
Anyone who says that pitchers are judged by WHIP more so than W/L and ERA needs to be taken out back and shot. That's idiotic.