The Rule V Draft kicks off at 12 Noon EST live from Las Vegas Today.  Of course it was two years ago, the Reds scored Josh Hamilton and Jared Burton for 50,000 each.  Not a bad day that was, huh?  Anyway the Nats get the first pick, and according to MLB.com's Jonathan Mayo:

MLB.com has learned that the Washington Nationals will take RHP Terrell Young from the Reds organization with the first pick of the Rule 5 Draft today. Young was a 10th round pick in the 2004 draft. He's got a big arm who had a very good second half in 2008. He's very athletic and competitive on the mound and has three above-average pitches.

-- Jonathan Mayo

I had never even heard of Young before, He was a relief guy for Dayton and Sarasota Number, and had a good ERA, but I doubt he is ready to spend a whole year at MLB level.