Shouldn't the emergence of Frazier factor into this as well? He's not a part of the Reds' plans at all if Francisco isn't dealt, as the portly 3B blocked his path and cast a large shadow on the future of the position.
Were it not for the deal, Frazier likely would have played 3B in Louisville this year.
If, then, the deal itself is part of a larger set of moves (and you can argue that it most certainly was), Hoover and the major league production of Frazier is a clear win for Cincinnati.
Atlanta won as well, as they now have a future 3B (or at least the LH part of a platoon) that looks to be at or near league average production levels very cheaply. Too, Atlanta's pen hasn't been great this season. They could have used Hoover. Because he wasn't there, the Braves chose to use Livan Hernandez, Anthony Varvaro, and Miguel Batista, among others. Some have done very, very well; others (like the ones mentions above), notsomuch. The balance is probably a league average guy-- and Hoover's much more than that this season.
In short, it's a win-win deal in which the Reds won more than the Bravos.