We could have waited till this off season to resign Arroyo. If he has a great season you're in a bidding war, if not you save a lot of money to spend elsewhere. (shrug)
Dunn is pretty much in the boat same as Arroyo.
Consider that Arroyo/Harang suffer an injury or have had a career year in '06. Bailey, Bruce and Votto don't live up to expectations. Dunn walks. Hamilton had the peak of his career in ST of '07. The Reds don't have a major league catcher on the roster. How do ya' like me now say the Reds?
Do I think the scenario I just posted will happen? No. But it's just about as realistic as the one that was described looking through rose colored glasses. (shrug)