Pedro Alvarez would be a shrewd acquisition target.
He struggled mightily last year and the Pirates' patience is reportedly wearing thin- they acquired Casey McGhee as an insurance policy.
Leatherpants notes on ESPN Insider that his career could easily follow a similar post-hype breakout career trajectory of Alex Gordon, a guy I wanted the Reds to go after last year before he broke out. He picks him as a player poised to erupt.
Reds are likely to have a vacancy at 3B possibly as early as this year's All-Star Break. At a minimum, Alvarez would be a good guy to push Francisco for competition as the 3B of the future. If they both work out, Alvarez could move to 1B after Votto leaves.
I'd see if Pittsburgh would bite on Masset. If not, I'd see what else they'd give along with Alvarez (perhaps Luis Heredia or Stetson Allie?) for Homer Bailey. Then I'd sign Oswalt