You can't truly judge backs by their stats. The scheme, the quality of the blocking, the play-calling all factor in.
I once watched Willie Ellison run for 247 yards - the NFL record at the time. Most of you will say, "Who's Willie Ellison?" Good question. He was a mediocre back who played behind an OL that dominated that day.
My eyes tell me Fred can still still play. Apparently a SB winning coach agrees because Fred's #2 behind a Pro Bowler in Seattle.
But I get the bigger point. Was it wise to let Freddy go considering we had younger, cheaper backs we wanted to keep and still had to find a way to pay Marcel? Not totally sure - but it still upsets me to see Fred in a Seattle uni.