You're making me do math before noon. Not cool. Not. Cool.
Well, using a 160 IP sample of defense, literally 30 plays, is dumn. So, substituting his career DRS/Game (including your 160 IP sample) into this season and his FGDC projection leaves him at 0.1 WAR or so for this year and would leave him at 1.3 WAR or so over the FGDC projection of 72 games. Funny enough, his DRS/game is better than his projected UZR/game. When you extrapolate that to a full season, that's 2.7 fWAR w/ DRS.
Like I said. If you want to debate the value his injury cost him, that's another thing; Reyes does not provide above average value (defined as cost of a win * 2 fWAR or so). However, he is an above average player when he does play, which is what we're debating right now. Reyes can be projected to be a well above average player, probably by 0.7 wins or so, for the rest of the season. DRS or UZR. A league average hitting SS with speed is more often than not a valuable commodity (not with Reyes' contract, but again, different issue).