Last season in 15 starts, he has a record of 7-4, 60 strikeouts, with an ERA of 4.13. Seeing from how he performed the last few seasons, including last season, it was obvious that he was not at the same level he used to be at and it showed in his outings.
Even though he has been off his game this past season, he is proven to be a good starting pitcher in the league. He has a great arm, solid fastball speed, good control of his pitches, and keeps his pitches in the zone. He is not the same old franchise ace pitcher, but he is a good suitable number 2 or 3 pitcher in your rotation.
The Angels has been having problems with the starting pitching all season, he wont be able to fix the rotation on his own. He will improve the rotation from what it was. The team is getting a good veteran pitcher who can go seven strong innings at the most, while throwing more then 6 strikeouts a game.
These are solid expectations for a second or third pitcher in the rotation. The good thing about this is that it is a one year deal, so if he does not perform well, it will not cost the team anything really.
With Lincecum getting his chance, he will have to produce numbers and show the entire league that he is still the dominating pitcher he was, and can rebound from the last few seasons. The one year deal is perfect for him.
If he performs well for the rest of the season, he is still at a good age of 31 that he will be looking at a good 2 to 3 year deal with a high amount of dollars coming his way in the offseason.