What, the Cubs don't need a 2B? Or the White Sox? Or the Orioles? Or the Braves? Or the Marlins if they part with Luis Castillo? Or the Brewers? Or the Giants if Ray Durham plays OF? Or the Padres, who were willing to take on Jr.'s contract? Or the Royals (who might have taken a guy like Walker with prospects in exchange for a larger contract on their team)? Or the Indians? Or the A's? Or the Rangers?
Half the teams in baseball need a 2B and who knows what all of them can and can't afford. $3.4 million is a perfectly reasonable contract for most teams in this game.
The Reds picked up two extreme longshots for a good player who at 29 is in his peak years. That is a talent drain. That is the definition of a talent drain. The Reds gave up a guy who can play everyday and do it well (and I'm saying this as a guy who is no great Todd Walker fan) for some pocket lint.
It doesn't mean the Reds can't use that money elsewhere. It just means that they traded a quality player for no one we should ever expect to see in the majors. Good organizations manage to get something back, even in a salary dump.