Well if I was GM:
C: Hanigan / Mez
3B: Rolen / Cairo
SS: Lowrie / Cozart
LF: Dejesus / Heisey
Trade anybody not named Cueto, Votto, Bruce, Mez, Leake, Chapman to get Daniel Bard and Jed Lowrie from the RedSox. Bard can replace Cordero and is cheap for next 4-5 years and Lowrie is in year 1 of Arbitration but has had low totals because of injuries. Then sign David Dejesus (his expected price is 2 yr/9.5 mil so I would offer 3 yr/11.5 mil).
I would bring back everyone in the bullpen except Masset and Cordero. I think sending Chapman to the Louisville to lengthen him out is a waste of a year of his contract because it will take 2-3 months to get him to the point besides he has a pretty friendly contract not making 5 mil until 2014.
I would somehow trade for either Gavin Floyd or James Shields and insert them into the top of our rotation.
2. Floyd / Shields
4. Bailey / Volquez / Wood
5. Arroyo (I don't know why maybe its the 12 mil we have to pay him)
RP: Arredondo, Lecure, Bray, Chapman, Bard, Ondrusek, Burton
That leaves you with: Alonso, Wood, Bailey, Volquez and a nice farm system to trade with. I just never understood the point in building your farm system if your not going to trade with them or not even use them as super subs and overpay old veterans to do that. And I like Jocketty!