Reynolds had an OPS of .678 with the Guardians, plus he's the worst defensive 3B in the game. Even if he somehow managed a .800 OPS, he'd give most of it back in the field. Also, I think they are counting on him to be the platoon partner with Overbay at 1B.
Soriano is definitely an upgrade over Vernon Wells, but I think we both would be too. They will pay him and Wells $10 million to form a underwhelming LF duo in 2014. He's been good since coming to the Yankees, but I don't think there's any chance he'll sustain it with his 3/22 BB:K ratio, and his season long .299 OBP.
They might be useful role players for the Yankees, but the Yankees aren't useful role players away from contending. They also have to deal with the luxury tax next year. I don't think flushing $10 million away on role players is the best way to get under that threshold.