tkcronin, your gift of the Reds is more of what I have (pitching) and none of what I need (hitting). For you, it will be the flip side. I'm actually gifting you a team that did quite well, but I don't think it's going to help you as much as you might think.
The 62 Giants have Mays, Cepeda, Alou, McCovey and some other nice bats. Your 32 Red Sox have a couple hitters if you can figure out what to do with them. Both teams distinctly lack anyone really good at the old mound game, though. Not a single guy with a sub-3 ERC# to be found between those two rosters, in fact.
The 1932 Cleveland Indians have a few very fine hitters too. A pair of nice $7M outfielders I'm pretty certain you have no way to afford or anywhere to play either because your other teams are pretty good there already. A solid 1B, but you already have two of those. They actually have a solid guy everywhere in the infield, but I can't figure out how you can afford to use them on an $80M cap with all the dead weight. They only have 2 players who cost under $1.9M.
And then there's the pitching side. They have 7 pitchers, all over $2M. None are what you'd actually call good. Maybe not awful, but certainly not anyone you'd use voluntarily. The nice thing is you get plenty of innings to choose from, and you'll need them because you're gonna give up a lot of runs (except to me, of course, because I have no hitting).
Only 18 players qualify for their roster, too. So you'll be spending quite a lot rostering these guys and probably chucking some of your favorite Giants aside in the process.