Reverse-Flash could be pretty scary to little kids. Super speed, he's mysterious, he kills people and dem glowing red eyes. He's the best thing the show has going for it, and can make this be a really interesting show. They have a good line up with Reverse-Flash, Firestorm, Captain Cold returning and the upcoming Grodd.
Just because Wells has the suit in his secret room doesn't necessarily mean he was the one wearing it. It could be a red herring. He could be guiding him like he's guiding Flash.
So, it looks like there's 3 speedsters, though still maybe just 2. What Barry saw as a kid could have been Reverse-Flash and Flash who traveled back in time. I guess they could have Eddie as the Reverse-Flash and Wells as Zoom or maybe Barry's dad.
About Firestorm isn't he two people in one?
Update: November 26, 2014
First Look at Ronnie Raymond and Professor Stein in THE FLASH
Robbie Amell, who plays Ronnie Raymond/Firestorm in The Flash, has posted a photo to his Facebook page, posing with Victor Garber, who plays Professor Stein, his mentor. In the comics, Ronnie Raymond and Professor Stein were the first two people to share the body of Firestorm. Later, Luc Roderique was cast as Jason Rusch, who is the current "other half" of Firestorm. You'll note that they're wearing the same outfit, likely an indication that Firestorm took the form of Professor Stein at some point, since thats not the clothes Ronnie was wearing the night he died
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First Look at Ronnie Raymond and Professor Stein in THE FLASH