I would be happy with the starting rotation you mentioned. Not great but not bad either. Make sure to bring up Homer Bailey after July 1st to make sure his arbitration clock won't start until next year though.
I would only trade Griffey or Dunn if we could get very solid, proven players in return. I don't want "maybes" or "somedays" in exchange for these two proven studs. I also wouldn't trade Griffey nor Dunn in a vulgar, cheap attempt to shed salary either. Those days are over my friends.
I would attempt to trade Hatteberg, Conine, Weathers and Valentin for prospects. These players have some value that could be exchanged for something useful. We got Belisle by trading Kent Mercker, and each of these guys has at least as much value as Mercker did. Hatteberg is expendable because we have Votto ready and waiting to take his place.
I would shed Moeller and Castro for whatever we can get -- maybe a case of baseballs or a Bronson Arroyo bobblehead doll.
I would trade Thom Brennaman for a prospect too. Hey, announcers are Reds employees so why can't they be traded?
We will lose Milton's contract after this season, so that is $10 million per year to spend right there. You can get a darn good player for that kind of cash. Raise the payroll another $10 million and you can get a second stud free agent. You can do this
and keep Dunn and Griffey.