I really like the Choo acquisition, but if money is an issue (and I'm betting it will be) I make a qualifying offer and take a draft pick. The Reds will be losing Arroyo after this year, Bailey after next and then Leake, Latos and Cueto all after 2015. Chapman would be a free agent after 2016 IIRC. The Reds have some kids who will take some of those spots, but the Reds need to keep at least 2 of Chapman (if he works out), Latos, Cueto and Bailey. Seeing what decent under 30 starters are costing these days, its going to take some big bucks to keep any of them IMO. Cueto and Latos may both get 9 figure deals, if Chapman asserts himself in the rotation, he will too. Even Bailey is probably looking at Anibal Sanchez money.
I'd probably draft a college pitcher with the pick from Choo. We can't count on all the kids working out and taking the current group's place.