I think it is safe to assume that most Reds fans have given up on the teams chances to make the playoffs this year. I have not, but I never do until the math makes it necessary, just like I always predict the Reds will win 95 games and win the World Series at the start of every season.
That said, I think it might be smart for the Reds to shop Cordero. This is not because I think Cordero is not valuable, but because I think he is very valuable. At the trading deadline, a bunch of team will be looking for a closer. Tampa Bay, St. Louis, Milwaukee, Detroit, Cleveland, just to name some obvious ones. Look at what Gagne got the Rangers last year, a starting RF, a fourth starter and a stud outfield prospect. And Cordero will help a team win more than Gagne.
The big negative is his salary, which might drive his price down some, but at the deadline, when a team really needs a closer, they usually overpay.
I am confident that Burton or Bray can take over the closer role, and the Reds have a bunch of great bullpen arms almost ready in Roenicke, Manuel and Herrera to set up. I also think the Reds could consider moving Bailey to the pen just like Gagne and Paplebon. He is very similar to them, in that he throws hard, but has a hard time concentrating for a whole game. I think he has the bulldog mindset of a closer, which might be hurting him as a starter.
Cordero was a good signing, if the Reds were to contend this year, but the older he gets, the worse the signing will look. I think the Reds could get a solid CF, and/or catcher, and/or solid 4-5 starter, and/or top ten prospects for him. That would fill a lot of holes, and the Reds would save a lot of money.
Just a thought.