If Coentrao is released by Real Madrid then we will get him instead of Baines, however I fear that Real won't sell him. Wouldn't be surprised to see Moyes going after Baines again if Coetrao isn't going through.
Moyes has said the Baines deal is dead.
I think you have to look at it from a business point if view.
As of the summer he probably had 4 good seasons ahead of him at best, as we couldn't get him this year, he now had 3 ahead of him. 25% reduction in value is a hell of a lot.