He has done a fine job at a young age of 25. He becomes the 8th pitcher in history to win Cy Young's back-to-back. He is also the first Cy Young Award winner with 15 wins. Both Wainright and Carpenter had more wins, but on the other hand, Tim Lincecum had over 260 k's.
I personally thought Carpenter should have won it as he came back from 2 injury-plagued seasons and helped the Cardinals to another division title. Wainright would have been my 2nd choice but on the other hand, part of the reason for Lincecum's losses is that he doesn't play on as a complete team compared to the Card's.
Either way, congrats to Lincecum for winning his 2nd Cy Young; this guy is only starting his career and look what he has already accomplished.
I agree that that is the ideal way to do the tournament, but it just isn't feasible. MLB already squeezes 162 games into a six month season which gives teams, give or take, 21 off days during the season.