If I didn't know anything about Luque before he came here, I'd be inclined to agree with you. In truth he's done nothing for us so far, and hasn't shown much either.
But as a follower of Spanish football I've seen enough of him to know that we have a top player on our hands. He was used mostly on the wing in his final season at Depor, largely because of his pace. Yes, believe it or not 12 months ago Luque was pretty quick. Go and watch some highlights of his performance against us in the Riazor, a few weeks before we bought him. I know people are going to say Carr is slow, but he just couldn't handle Luque's pace down our right flank and was lucky not to get sent off after a yellow card and a series of fouls. Or watch his performance against Man Utd on his debut, where he was quick down our left flank and looked like he could make that position his own. He's looked slow ever since, almost certainly because of his injury in only his second game, which was the worst of his career. Roeder described it as 'a horrible hamstring injury' and it put him out for 3 months. The big question is, has he lost a yard of pace permanently or will he get it back with fitness and games? It's difficult to say, he hasn't had a run in the side since he came here.
Believe it or not the Deportivo fans are still talking about him on their forum, and mention that they miss the pace that he offered them. If you don't believe me I can point you to it.
You mention he's fragile, but he's never had injury problems in his career. He's played over 30 games a season throughout his career. In 3 seasons at Deportivo he only missed 14 games, thats about 5 games a season. In his last season at Depor he played 37 out of 38 games and was the club's top scorer from the left wing with 11 goals. He also had a tendancy to score against the bigger teams, including goals against Villarreal, Real Madrid, Barcelona, Milan (home and away). The player we signed only 12 months ago was a regular in the Spain squad, competing with Vicente for the left-wing spot and attracted the interest of Real, Barcelona and Liverpool. He was pivotal in Deportivo's Champions League semi-final run two years ago, scoring 5 goals.
You don't play that well throughout your career and then suddenly turn shit at the age of 28. Are you ready to lose £5m on a player who has only started half a dozen games for us? Personally I think his pedigree suggests we should have a good look at him before we get rid.