I think Beltran was right to throw the ball. He absolutely had a shot to get him at third, and as long as he doesn't miss the cut-off man (which I don't think he did) then trail runner doesn't move up to second. If the runner took off during the throw, Reyes could have cut it off and thrown him out easily at second. Because he didn't go (at least I think he didn't go), Reyes let it go. If Wright catches it, or Wags backs it up, the runner doesn't advance. (If the trail runner did break on the throw, then Reyes should have cut it off and taken the easy out at second.)