Well then.
Update: the deal is currently on hold due to a medical issue with one of the players (reportedly one of the prospects, not Bruce or Saunders)
As Da Box's resident Reds fan, three things about this potential deal leap to mind.
1. Bruce has been pretty brutal the past couple seasons, both at the plate and in the field. However, the 2013 and earlier version of Jay Bruce was an extremely valuable player. And watching as many Cincinnati games as I did that year, I can say he was also a very good defensive right-fielder. I believe he had some knee issues throughout 2014 that may have ruined his range out there (sounds familiar). Even if the range never returns he still has a very good arm.
2. If Toronto can't bring Bautista back for 2017, Bruce becomes a very nice insurance plan since the team is pretty short on everyday outfielders. Assuming he isn't completely terrible in 2016 of course.
3. Awful slash lines or not, Bruce could easily hit 30+ dingers playing home games in the Dome, if that's your kinda thing. He's got some serious sock in that bat, and has plenty of long bombs against lefties (59 in 1373 PA), not that this team faces too many of those.
If it's money neutral or close to it then I personally have nothing against the trade. It's an interesting buy-low move. Though to be honest I've always liked Jay "The Beaumont Bomber" Bruce so I'm severely biased. Have at it.
https://www.battersbox.ca/article.php?story=20160222215933333