Assuming Fay is on the money:
The Reds had expressed interest in Haren but thought the price was too steep. The A's apparently wanted a package that included Johnny Cueto.
Pretty ambiguously worded statement there. If the package was Cueto plus a few guys not named Votto, Bruce, or Bailey then I have to say that was pretty dumb of the Reds. But for all we know the package could have been Bruce/Bailey/Cueto, you wouldn't be able to rule that out from what Fay wrote.
If Cueto really was the dealbreaker with the A's then it is tough to see how the Reds will get a deal done with Baltimore. Bruce is off the table already, if you also take Cueto off then you might also be taking off Bailey (if the Reds think higher of Bailey then they do Cueto, which might not be true).
Krivsky is going to have to give up something to get something here. The chance to win in 2008 is right there for the taking, and I think the Reds can afford to lose a couple of their top prospects for that opportunity.