I don't think we should make too much of what Pearson did in League One. We had one of the biggest budgets in that division and were one of the most attractive for players to join at that level. Pearson getting instant success in the third tier wasn't him doing a great job. It was him doing the minimum required.
His season in the Championship with us is a different matter entirely, of course. He did an excellent job considering we had just been promoted. But he did have the advantage (of his own making) of momentum from the title winning season, something he can't rely on now. Although it's worth remembering that what Pearson achieved whilst here wasn't particularly astonishing historically. We yo-yo between the top two divisions and as such 5th in this league is about the minimum we should be aiming for. Pearson doesn't feature amongst our best ever managers (I know you haven't claimed he does, but to listen to some you would think he was up there with Gillies), he simply managed us to our best position in one of our most disappointing eras.
As it happens I strongly believe that given enough time Pearson can fashion "a decent squad and capable team". In fact he can probably do better than that given the resources available to him now. The problem is that I do not believe the owners will give him enough time, and I think that Warnock is one of the few managers capable of delivering promotion within the parameters of the owners' impatient approach.
This isn't me calling for Pearson's head. If anything this is me pleading with the owners to show a bit of patience.