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Fangraphs uses a system similiar to Tango's which is:
-offense compared to league average
-defense compared to positional average
-separate positional adjustment (and I'm pretty sure it's the same across years)
-fixed replacement-level adjustment based on playing time
If you go to a player page you can see the value for all four of those components. The biggest issue that people need to keep in mind is that thier replacement-level is lower than some others, including Tango's. That means an average player is probably more like 3 wins, maybe more, using their numbers rather than 2.5. That still means Hardy was a useful player even at his worst. Plus, there are very few players you should give up on after just one season and I don't see why JJ is one of them. Therefor, I agree with Taro that he is a great player to snatch up for cheap.