Per John Fay's twitter:
#Reds sign RHP Jose Arredondo to minor league deal. Was 10-2 with a 1.62 ERA in '08. He'll have Tommy John soon
This is an excellent signing, IMO. He won't help the Reds in 2010 but he'll be back by 2011. He's coming off a bad season probably due to elbow problems but he had a terrific rookie season in 2008 with a 1.62 ERA and 22 BB/55 K in 61 innings. He's still only 25 (turns 26 in late March) and has nasty stuff. Very nice low risk-high reward signing by the Reds.