As a huge Reds fans, let me clear some things up:
1 - The rumored return for Dunn, if true, is an absolute HAUL: Dallas Buck (coming off of TJ, but an extreme ground ball pitcher, which the Reds need), Micah Owings (shoulder stiffness and regressed this year, but couple him w/ Harang, Volquez, Cueto, Arroyo, that's a solid rotation), and Jarrod Parker, the D-backs #1 pick from last year (can't be traded until Aug 15). Again, the last two are rumored to be the ones, but we shall see. If so, the Reds got what they wanted from TB - 3 great prospects, one of which is ML ready.
2 - The Reds do not now have an extra $29M to spend this off-season. A lot of guys are getting significant raises, so the real number falls to @ $13M. Not to mention the FA market this off-season is pretty sad.
3- The Reds now have 4 (maybe 3) huge holes to fill now: C, SS, CF, LF. Chris Dickerson should play every day til the end of the season so the Reds can find out if he can be an everyday CF'er. He has A+ defense and + speed, but his bat is the question. If he can have an OBP of .375, they have an in-house replacement for CF. The Reds absolutely have to trade for a catcher and a LF'er. I assume they try to land one of the 'big-3' catchers in Texas (Salty, Ramirez, Teagarden) with some of their surplus pitching at AAA (Bailey, Maloney, Thompson). And if the Reds are smart, they move BP over from 2B to SS and try to land Orlando Hudson to man 2B and give the Reds the best defensive team in the NL up the middle. LF, well, they need to find a big RH bat and I have no damn clue where that's coming from...Unless they move EdE from 3B to LF, but who do they replace 3B with? Dunno there...
I was against losing Dunn as his offense is too important to this team (40 HR, 100RBI, 100 BB's, .900 OPS), but if that return ends up being true, way to go, Walt!!!