Let's see, looks to me like he's got 32 saves on the season (4th in the NL) against 5 blown saves. That goes along with an ERA of 2.60.
The NL closers with more saves than Hoffman are Jose Valverde (45 saves, 6 blown), Francisco Cordero (37/6) and Takashi Saito (34/3).
You and I have very, very different definitions of "suck" apparently. Dang, man, even Babe Ruth struck out from time to time.
