I got my reserve letter today as well, it sounds to me like its just a waitlist under another name, at the point where you'd have to lose a deposit to accept any offer there's really no difference from any perspective except maybe thiers.
I was deferred at Cornell and got another letter from them today.I was placed on "reserve" which basically means I was deferred AGAIN.They said they strive to keep their numbers low, so they will not be making decisions again until May. At this time they also create a waitlist. Honestly, at this point Cornell no longer means anything to me, I would not lose a deposit at Fordham to go to Cornell...I am content with my choice of being in NYC and at Fordham. Therefore I am withdrawing from their deferred..reserved.. w/e list. just wanted to let everyone know they were in contact again, as I know some people are interested.