Burrell and Dunn are often lumped together in the same class of players when it comes to their bats, ie low average, plus OBP, plus power. Burrell is the better defender, Dunn is younger, they bat from opposite sides and Dunn is probably the bigger impact bat... that aside, pretty similar. Given the market for Burrell though and the deal he just signed (2 years, 16 million), let's assume that Dunn would go for a similar deal at a slightly higher dollar amount given that he is a younger guy, would you sign him if you were Jocketty?
I figure that one of two things could happen with Dunn. First, the market might get a bit nervous as there is one less big OF bat left and will jump at the chance to offer Dunn a deal they might have once thought he would have balked at but might now reconsider with Burrell signing cheaply. Or, the market might continue to ignore Dunn as dollars are being tightly kept by MOST organizations and with Burrell, you had a player who did at least hit .250 and is coming from the World Series winner, neither of which Dunn could say. Basically, the market would indicate that Burrell got what he deserved in this current economic climate but Dunn does not meet the threshold he set and instead teams would look at other options that would likely not split the fanbase as much (Abreu, Wiggington, etc.)
Eitherway, Burrell signed on the cheap and Bradley signed to what about was expected. If the Reds could bring in Dunn on a two year deal, allowing Alonso time to develop, I don't see how it could be a bad idea. If they feel that badly about his defense (a complete separate point that coud be argued here), bring him on for 1st and transition Votto to LF as he will have to move there eventually for Alonso.