I was talking to a dude on another board. He is really talented at math. He also loves baseball and blogging about ferns or something. Ivy maybe? I dunno. Anyway, he told me this: Basically, the value in walking is not because you get on base, but because you get can't get out. There are numerous ways to answer this question. The guy with the walks will get more PAs over the course of the season. How many? Well on average about four guys will bat more because of him on the team, so if he's batting in the top 3, we can expect him to get about 100 more PAs over the course of the season. Give the guy with HRs 650 PAs. For a low estimate, give the guy with the walks 700 PAs. Using a simple linear weights formula you'll get: 231 runs for the walks. 106 runs for the homers. Even if you ignore the additional PA's. The walk guy will create .33 runs per PA. The HR guy will create half that, .163 runs per PA.