If Cingrani helps the team to win this year (even if it's just securing a wild card),
I really could care less about the financial and free agent ramifications of it down the road. Another point to consider.. Maybe when Cingrani becomes FA eligible, he has found memories of coming out of the pen in 2013, and that makes him want to stay. He's not stupid. He knows he is one of the top 12 pitchers in the organization right now.
IMO, there's no doubt that right now that Cingrani in the pen makes the Reds a better team. When the bullpen gets healthy, the cost-benefit is debatable, but right now, it's a no brainer, IMO.