What about trying to acquire Byung-Hyun Kim from the Rockies? I know that he has an ERA near 5, but the Rockies have been using him as a starter. He has a great track record of past success in the bullpen, which is what the Reds need. He's also only 27 and making only $1.25 million this year. I'm not sure how much it would take to get him, but it's an idea.
I'd also ask the Rockies if Ray King is available.