Valaika has 1300+PA's in AAA with a sub .675 OPS. I wouldn't count on him at all. Frazier at 2B was a disaster. He couldn't figure out the footwork going the opposite way from what he was used to on the other side of the infield.
Personally, I would start both Henry Rodriguez and Didi Gregorius in AAA next year. I would watch their development and see where I felt things were in July before even considering talking to Phillips about an extension. And even then, he wouldn't like the years I would be willing to offer.
It could be pushing a guy like Gregorius slightly too quickly (he began the year on the DL with some kidney issues before splitting 363 PA's between A+/AA), but the Reds need to figure out what to do for 2013 and Gregorius has to be considered as an option unless they already have it in their heads that they are going out to get a free agent.