The formula uses a sliding scale of 1 to 10 points for different statistical categories and assigns points as well for awards. I looked at the Top 5 in career statistics to help target the upper bounds of the scale.
Hitting Scale
Pitching Scale
Awards
MVP/Cy Young/Fireman - 4 Pts
Silver Slugger - 2 Pts
Gold Glove - 2 Pts
All-Star - 2 Pts
World Series Ring - 1 Pt
Rookie of the Year - 2 Pts
Based on the above scales here is how the Current Hall of Fame stacks up.
And here are the nominees:
Here are the HOF Pitchers:
And the nominees
So based on my formula, I would make the case that Rico Lecuona, Rod Perez, Tony Baez, and Tom Davidson are the most worthy.
For the final spot, it is easy to make an argument for any of the following: Lenny Ohman, Bartolo Gonzalez, Phil Martin, Jose Cordero, Vin Guapo, David Padilla, Mac Ventura, Santos Julio, Steven Hutch, or Max Lima.