Article: Change of Scenery is Great for Pirates Garrett Jones
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1st OPS is a highly overrated state that doesn't taken into account fielding and grossly overestimates slugging percentage while barely taking into account OBP.
OPS may break down at the extremes for individual players (low obp/high slg, or high obp/low slg), but in general it holds its own against the more complex run estimators out there.
Here's an article that takes a good look at it. It's not perfect, but it serves its purpose.