Reus strikes me as somewhat feasible given Wenger's lack of trust in Poldi, and our problematic near total lack of goals from out wide when Theo's out, which I'm sure even he sees. Can also play CF too - Arsene likes his players flexible.
Cavani will stay at PSG another season at least imo. Perhaps Balo or Costa really are our best options, but for differing reasons I'd much rather the Uruguayan.
Don't think Arsene is interested in Shaw/Schneiderlin. We've spent too much time on the Gibbs project, and ever since Vieira left Arsene doesn't "do" aggressive and physical ball winners.