This move would bake my cookies. Love it. It's not a bad price either in my opinion.
Given their current defense situation, their pitching, and the park in which they play, the Reds are in need of a top-flight defensive shortstop as much as about any team in baseball. Jump all over me for this if you want, but I don't really give a crap about the offensive prowess of a shortstop if he's that good defensively. It's the position where I care about defense the most apart from center field and maybe catcher. This would be a very good step towards improving the team.
Now, of course the Reds have a separate offense problem to deal with, but that's the case regardless of whether they go after Gonzalez or not. Frankly I just don't think this is the place on the field to fix that. A good defensive guy at that position in that park is an absolute necessity, and to find a guy who's that PLUS a real offensive gem at a good price is going to be pretty much impossible. Getting a good defensive player at shortstop frees up the Reds a bit to focus on the pitching and offense. I also think that a move like this would be further indication that Dunn is staying put.