I've been pondering the present state of the 40 man roster. Right now, if I've counted correctly, there are 43 players shown on the Reds site, with three still being shown being on the 60 day DL. Of course, at the conclusion of the World Series, they'll go back on the roster.
Here is Cot's spreadsheet for the present roster and players' status for next season.
They list six players as Free Agents: Arroyo, Choo, Masset, Izturis, Duke and Parra. It's clear Masset won't be back and I doubt the club pursues Izturis. We've had discussions about offering Arroyo and Choo qualifying offers. That leaves Parra and Duke and there has been discussion about both of them here too.
They list our arbitration eligible players as:
This is LeCure's first year of eligibility. Hanigan and Bailey are in their 3rd year and the rest are all second year of eligibility.
Here is the Reds link for the current 40 man roster.
I am sure there are a number of players who were added during the season that will likely be removed and risk being lost - that's just the reality and there are some that it's essentially pro forma - every year clubs make those decisions.
The team should have plenty of room on their 40 man roster this off-season.