I think gross production can be fine, there are dozens of metrics that could be considered a "standard stat".
Advanced stats that inflate or project across an entire season do bug me. You can't just double the the targets and get double the output. The NFL has so many variables that I just don't think it's that simple. He will never see double the targets in a run heavy offense. Now, as I previously mentioned, the quality of opportunities should be much higher than what many WRs are used to, assuming that our run game is setting up a very strong play action game.
DT and Sanders in the Kubiak/Dennyson offense both had their numbers fall across the board. Some of that can be blamed on poor QB play, but you have to put some blame on the scheme. Despite having the best WR combo in the league, they focused their energies on getting a run game jump started that never took off. Their play action game was a joke, and the passing game thoroughly missed the WR screens and deep balls that both of those guys have excelled at. We do have a run game in place, so it will be interesting if their offense can be more effective here.
I have never claimed its a simple as yards, that would be too easy to rank 'em that way, but yards are certainly not a throwaway number.
I imagine that we'll never come to a consensus on even 5 key stats that determine the effectiveness of a WR.