This has perhaps been covered elsewhere but OPS is flawed. I like the idea of a metric that combines a hitter's ability to get on base with his power but OPS is skewed towards OBP and dilutes slugging in a way that doesn't make sense.
Why don't we use instead:
total bases + walks/plate appearances? This would essentially be slugging percentage but counting a walk like a single in the numerator and the plate appearance when the walk occurred in the denominator. The only weakness there being it counts walks and singles as equal but a single can advance a runner two bases and a walk cannot.
I'm guessing there is a metric already out there either exactly like or very similar to the one I'm thinking of. Wondering if anyone has seen it/used it. I haven't thought about sabermetrics since 1986 so I'm sure I missed something.