I know it's been done to death here, but I find the BABIP hate just so weird. Of all the 'advanced' stats, it's the one that is the least weird, analytical, or whatever. Take the old cliche, 'Put the ball in play, and good things are bound to happen,' or, 'Shorten up and make contact with two strikes,' and that's what it is measuring. When you don't walk, or strikeout or get a home run, you put the ball in play. How often you get on base when you do can be compared to your batting average pretty easily. If it's a lot lower than your batting average, you've been getting lucky with home runs and unfortunately, hit balls straight at defenders. If it's significantly higher than your batting average, you've been dropping balls where people aren't.
When you compare someone's BABIP for the last two weeks or a month or whatever and compare it to their overall career BABIP, you can pretty much immediately determine if a guy is having a cold streak, a hot streak, or if he's just playing at his normal potential.