Over at MLBTR there is a strong sense that outfielder Matt Murton is available since the Cubs acquired Reed Johnson earlier this week. Dierkes seems to write off the Braves as potential suitors, saying that Diaz is the guy in left, and while that is true, the Braves want a power bat with some experience off the bench -- and Murton would likely fill that role.
Add to that two factors that have historically attracted the Braves to players, (1) Murton went to high school in the Atlanta area (Eagles Landing in McDonough), and (2) with only two and half years of service time he's priced just right for the Braves modest payroll that still wants to have payroll flexibility to possibly add someone mid-season.
Matt Murton is a very similar hitter to Diaz in the numbers he puts up -- not quite as good average wise, but he probably has more power. For whatever reason, Lou Pinella never seemed to take to the red headed outfielder and the Cubs seem to constantly find reasons to bring in other options in the outfield year after year.
Chicago is apparently looking for left-handed relief pitching and we may still have Royce Ring available, which may be a good fit (though it would be rather ironic since they traded us their main lefty relief guy in Ohman over the winter). The Braves would still have depth at the lefty relief stop with Jeff Ridgway and Francisley Bueno in the minors and the hopeful return of Mike Gonzalez sometime around the All-Star break.