They need a starting pitcher or two. The talk was of Liriano, but I am not sure who they have on the market right now. If the Giants are in the discussion at trade time, you need to make an effort to get Cain or, at minimum, Vogelsong. Renteria and Hernandez work well in the trade with 2 or Sigle/Double-A prospects. It shouldn't take much to get a decent starting pitcher from the Giants in exchange for a few players with a servicable catcher.
I am interested to see if Willis can continue being a viable pitcher in Louisville, it would be nice to see him take another run at the big show. He was some kind of dominant for the Marlins and if he can return to form, he would be a very good 4 or 5 starter.
The Reds need to make a serious run at Reyes if he is available. Stubbs has to be included in that package and you can afford to run Janish with him as well. At this point, Janish has done little to convince me that he is more than a servicable day off for infielders. The argument against is obviously being able to afford him and Phillips in the years to come. He may not stay regardless, but they may both like the idea of having the best middle infield in baseball and batting 1-2 in the order in front of Votto. You have to believe that if this team isn't going to make the playoffs consistently, not talking 3 times in 7 years, but every year for a few years: Votto is gone and Phillips is gone. They are both the top 5 in their position in MLB and don't want to squander good baseball on a bad team. Might they stay for less money, yes, but not 20 million less.
