Having had the chance to A/B my Reeves and Orange cabs this weekend I have to say I'm impressed! I was originally using NV215 cabs, but found them too large to handle on a regular basis... so I decided on 115 cabs. I've had the Orange cabs for ~6 months now and really like them, but the Reeves have changed all that...
The Reeves sound much tighter in the low-end, than the OBC115s which are more flabby. The low-mids are real creamy... very much like the NV215. There appears to be more high-mid content in the Reeves though, which I suspect will smooth out once broken in. I'm not sure what the break in period will turn out to be, but the speaker does sound very tight. I read that the Orange might be a bit louder, and agree with that statement. The difference is minimal, but it's there. Overall the Reeves is a very dynamic cab, and took all that I dished out without ever sounding "pushed". The driver really responds well to nuance, hand position and attack translated really well whether using a pick or finger-style. The tone knob on my US Glaub (strung w/RS66) produced more tonal variation than I've ever heard before. Rolling off the highs produced a thump that hits below the belt. The Orange by comparison is a more subdued cab, and doesn't really change character as radically. With the Reeves I never touched the EQ on my Hiwatt, as the tone knob produced all the variation needed to go from a very agressive treble tone (think Entwistle/Squire/Wetton) to a really thunderous low-end. I didn't bring either of my flat-strung basses, but can only imagine that the punch from flats would positively hurt.
I plan on sending some music through the cabs for a few days to loosen them up, and will report back. Bill hadn't commented on break-in, but I suspect ~40-50 hours should really add some sweetness to an already great cab.