I don't think Reds starting pitching issue is so easy to deal with.
First, the team already has lots of quantity. So the need is for a front line guy. Reds already have talented maybes, don't need to acquire more of them. So Reds need a major guy who will cost good players, much money, or both.
Second, we saw in the Josh Hamilton deal that trading a talented every day player for pitching can be a big gamble. Pitching is usually fragile, often more so than hitting and fielding. Trading an Alonso for pitching could be risky.
Third is GABP. Not every good pitcher will be successful in this type of stadium.
Fourth are Bailey, Volquez, Wood and Chapman. Here are four very talented guys who I still consider maybes. But any one of them could emerge as equal to or better than a pitcher the Reds acquire. The team must have a good sense of the likely future of all these guys before possibly trading them away.
Fifth is Arroyo. His contract and his down 2011 must give the Reds concerns about adding more long term deals to their rotation. I hope he rebounds, but worst case is adding another big pitching contract that doesn't work out.
Sixth is other needs. I think the Reds must also beef up the pen and pin down LF this off season. They can't use all their available assets in a deal for a starter.
I think the Reds need to get a front line starter this off season. But any move will likely come with real risks.