We did use some hydrocortizone and DD seems to be itching less and the redness is pretty much gone. I didn't know it was a steroid cream, duh! Thanks for the advice. Because she is irritated less we will go back to moisturizing with Aquaphor. We were bathing her almost every day and now we're going to cut down to 2-3 days a week, if necessary only. I do wash her face and neck area daily but I only use a warm wash cloth no soap.
As far as the Soy goes, eh! She doesn't like it much but its only been two days and it smells pretty bad as well. I don't want to keep switching formulas but I want to make sure she's eating well and isn't have allergic reactions.