Reed is a horrible choice, no one outside of RI knows who the hell he is.
I don't think Reed makes a lot of sense as VP, but again, I know I sound like a broken record on this, but high name recognition is not a qualification for VP. You don't have to be well known before you're chosen as a running mate. Probably 98% of Americans (outside of their respective home states) don't know who Bayh or Strickland or Webb or Pawlenty or Sanford are. It doesn't automatically disqualify them. There are only a tiny handful of politicians in the US who have "high national name recognition", and most of them would be awful choices for VP.