An article rehashing some of the points we've discussed here. Not a bad summary.
The Reds have an abundance of major league starters under team control in 2011. Mike Leake, Homer Bailey and Travis Wood are not yet arbitration-eligible and Johnny Cueto and Edinson Volquez will be arbitration-eligible for the first time this winter. All except Wood, a 2005 second-rounder, ranked among Baseball America's top 100 prospects before they became prominent major leaguers. That's an entire rotation's worth of former top prospects and they're all still cheap.