This is a pretty funny and accurate tutorial on how to watch spring training:
He makes a lot of points that I think are likely to apply especially to our Reds:
1. There is no such thing as too much pitching. In a couple of recent preseasons, there has been a bit of a feel that the Reds maybe had too much pitching and needed to trade the 6th or 7th guy to upgrade elsewhere. However, pitchers seem to get injured at a much higher rate than any other position. It is always huge to have a couple guys waiting in the wings in Louisville who can come up and give you good starts for a month or more. Last year's pitching health was so fluky that some may forget how important this is.
2. Take the stats with a big grain of salt. It seems like every year, there is a guy or two who tears it up in spring training and everyone is clamoring for him to make the roster over some other more proven player who struggles. Performance in spring training isn't totally worthless, but it just doesn't mean that much. Guys are working on pitches, trying new things with their swings, playing themselves into shape, etc.
3. Don't get too attached to every prospect. I myself have been guilty of this one. You follow some of these young guys and become convinced they are the next big thing. Only to see 3 of them packaged in a deal for a relief pitcher and sent on their way. There's a pretty huge leap from the low minors to the high minors and then from the high minors to the majors. Odds say most of these guys will fall by the wayside somewhere along the way.
All the above being said, I am really looking forward to the start of spring training, following it too closely and overrating every Red who performs well. I mean some of these guys are coming into the season in the best shape of their lives, that has to be important...