I wouldn't expect a lot from Reynolds. He could surprise, but I wouldn't rely on him. Your staff is pretty good for a 12 team league, so if you have a feeling about him that you want to work with, I would leave him on the bench and see how he performs in the first month.
That said, don't have any loyalty to him. He starts struggling, or he starts to develop a bunch of "minor" injuries, you drop him. He's not worth holding onto for a whole season. There are plenty of pitchers out ther worth taking a gamble on.