Maybe I have just missed it in my 30 years of baseball fandom but I don't think I have ever seen this very simple statistic used—Strikeouts:Base Runners. It would seem to be a very good and simple measurement of pitcher dominance, acoounting for strikeouts and baserunners allowed in one stat. My two favorite stats for pitchers are WHIP and K/9 and here they are wrapped into a nifty little package.
Here is a sample from the SO league leaders with Cain slipped in.
J. Sanchez .824
Pretty amazing that Johnson is one K away from having one K for every BR and Latos is two off if I remember right.
Anyway, thought this was interesting and I haven't seen it used before, although I might not be looking in the right places.
I would also wonder if FIPP might show a correlation with those on this list who have higer ERA than expected.