First, locking up Harang was a good move and the contract that it took to get it done is a good one for the Reds. A big high-five to all involved.
But now, here's something that many may not have considered:
Harang's trade value has dramatically increased with this contract. The Reds may have locked him up long term but it's not safe to assume this means they'll keep him for 4-5 years. I guess this contract is supposed to symbolize their commitment to winning and a willingness to increase payroll but they also just increased their leverage for potential trades dramatically. While a good move, signing Harang doesn't prove anything to me regarding a commitment to winning/payroll. Basically the Reds bought out his remaining arb years at somewhat of a discount (importantly they erased an unknown in the payroll ledger for those two years). It would've been incompetent beyond belief to not have extended him. Krivsky does get props for getting it done the way he did though.
Anyway, here's a list of guys on the 40-man roster that are in my view eminently trade-able based upon them being desirable enough (considering a combination of established performance, upside, contract) to both attact attention and to net something back in return that is useful (equal to or greater than what the Reds would be giving up). I'm assuming some guys like Griffey are simply untradeable because of the contract while a guy like Courmier probably could be traded but I'm ignoring erasing payroll from the books as a useful commodity. The return they might net is obviously variable (they're not listed in any particular order). Not surpirsingly, the list might resemble alot of people's list of core Reds for the future.
I'm not advocating that any of these guys be traded. I'm just suggesting that these are the guys any given GM would likely target. If the Reds have a disastrous first half, I wouldn't be shocked to hear that Harang or Arroyo were traded.