That's a pretty good squad right there. You've got an elite power hitter in Miggy, a great catcher in Soto. I would be worried about Chip but with Atkins there too, you should be fine this year from 3B. You might be a little weak on steals but you've got four possible 20+ steal guys in Kaz, Maybin, Alexei, and Damon so you should be OK. I think you're good on offense.
Good anchors for the pitching staff with Halladay and Felix. I really think that Ervin was a bad choice, he's having problems that could easily see him gone for the season with Tommy John surgery. Wandy's a nice little pitcher too, he should jump up this year to be a very notable pitcher. I don't think you can really count on Weaver if Ervin goes down, so you might be screwed later with your starting pitching.
You're one weak spot I think is your bullpen. Wood is a headcase and could easily end up blowing the closer job by June, Cordero doesn't get enough credit and the Reds will win games close but how many wins are they gonna get? But then again, Wood and Cordero could easily have 30+ saves each.
I think your team is solid but you should try to get rid of one of the injury concerns Chipper, Dye, or Ervin before it's too late and try to trade for an established starting pitcher like a Derek Lowe. Or maybe package Ervin and Wood and try to lure someone into giving up an elite closer.