We now have a much clearer picture as to what the OD roster will look like than we did a month ago. There still remains some clutter, particularly now in the bullpen. Here's my best guess at the OD 25:
SP2 J.Cueto (even though he'll likely start OD)
BP A.Brackman (although if it were me, I'd let Brackman work as a starter in AAA and let Ondrusek and Judy battle it out for this last bullpen spot)
BN R.Hanigan C
BN C.Heisey OF
BN D.Phipps OF
BN J.Francisco IF
BN R.Theriot IF (if they don't sign Theriot, this spot could go to Frazier, Valaika or Janish)
As I noted above, with the new bullpen depth, I might consider trying to stretch Brackman into a starter along with Chapman in Louisville. If his deal keeps him in Cincinnati (as a reliever), then I'd look to trade a reliever (perhaps Masset?) and something else for Seth Smith. The Rockies are without Huston Street, so perhaps they could use the bullpen help.
As for the bench, I could see a battle developing between Phipps and Frazier in ST, especially if they bring in an LF from outside the organization- otherwise there may be room for both. If they don't sign Theriot, they will likely need someone like Janish or maybe even Valaika who can backup Cozart at SS.
Is Miguel Cairo still with the team? If so, he may take a roster spot away from the bullpen, creating even more of a logjam...