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This is the same Jose Reyes that has not played more than 133 games in the last 3 years.  He missed 29 games last year with a left hamstring injury last year, 24 games with a right oblique strain in 2010 and missed most of 2009 with a torn RIGHT hamstring.  This is a guy who relies a lot on his legs that missed 155 games in the last 3 years with leg injuries, and has a long history (222 games) specifically with hamstring issues.  Yes, he had a great batting line last year, probably the best of his career, but it included a .351 BABiP; easily the best of his career (previously .335 in his rookie year, his full season best was .320) and notice that his stolen bases, over 55 per year for 4 years until his hamstring tear, were a comparatively meager 39.  Now there's nothing wrong with 39 stolen bases, but notice a trend here.
Stolen Base Attempts per Stolen Base Opportunities
2005 31%
2006 33.8%
2007 40.5%
2008 29.1%
2009 20.3% (Hamstring Tear Year)
2010 18.5%
2011 18.3%
Yes, he still has good stolen base numbers, but after what mostly looks to have been a career year, people are talking about 4 or 5 years between 75 and 100 million dollars.  It's not hard to envision his career tapering off like say, Rafael Furcal, another all star shortstop who was fantastic until about age 30 when back and leg injuries started to significantly hamper his career.  He went from being a 3.2-5 win (via fangraphs) player over the previous 4 years to being worth 2 in each of the next 2 years and having a little career resurgence and getting close to those career years before collapsing again last year.  Now Jose Reyes is better than Rafael Furcal, but he's already missed a huge amount of time due to leg injuries and as mentioned before, he probably will cost 17-19 million a year and at least 4 years to sign and shortstop is an extremely physically demanding position .
I like Yu Darvish better, if for no other reason than he makes it possible (in that we could trade Pineda or Vargas without having to replace them with Danny Hultzen or James Paxton who would likely not have the ability to pitch more than maybe 150 innings) to make that big (low cost) bat trade for Joey Votto as Dave Cameron has been pushing for.