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As a 19 year veteran of OOTP and one who wanted to rid the game of what I call 'abnormalities', such as players suddenly not playing because their ratings dropped (not their production) or players getting huge salaries based on one monster year, I'll take a stab at why '2 years ago' matters.
Let's take the two examples MathBandit gives, Player A is 8/4/2 WAR vs Player B with 2/4/8 WAR. Let's start on the day that OOTP 'rolls' current year to 'last year'. Player A hasn't put up 8 WAR yet, so he is at 0/4/2. Player B is at 0/2/4. Suddenly things look totally different. When the season is over and 'current' rolls to 'last year', Player A is 0/8/4 and Player B is 0/2/4. Huge difference. This fog of war exists unless you crank up the ratings. Which some people prefer and that's OK.
I don't know when 'current year' is reset (I wish I did), 'current year' is very dependent on how deep into the season the Player is.
The scouts and GMs have their own values and not many scouts or GMs value 'current' and '2 year ago' equally. I like the fog of war and hated winning 100+ games a year because scouting was way overpowered. That doesn't mean it's for everyone. In fact, it's fairly close to being stats only.
I found it's not good to overvalue anything, including 'current year'. The 'current year' is only a valid data point between the all-star break and whenever OOTP 'resets' the 'current year'. There are really only three dates that would make sense, 1) off season begins, 2) Jan 1 and 3) pre-season begins. I would personally do it when the pre-season begins for several reasons.
Some people use 67 as 'current season'. Well that 50 HR year is worth '67' until the day it's magically considered '20'? Sadly, I believe they may be using ratings more than they realize because they value 'current year' at 67 when there are NO STATS for the 'current year'.
One of the issues is not knowing exactly how the mechanics work. That said, I found 4x25 to be the most realistic. Of course, OOTP might have made changes in 23 and I'm on here in a few weeks saying 25/25/25/25 isn't any good now.
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