I do not like this reserve price feature at ebay. only bad experiences. At the end it results in most cases in unrealistic price expectations and the bidders are upset to spend time on an auction which will be too expensive at the end anyway because of a dream reserve price of the seller. as a seller IMO either you want an auction, or not, Everything else is cheating. You can have a realistic start price with an auction anyway to protect yourself.
But tastes are different with each costumer. So my opinion is only one among many. Let's say, the buy it now feature makes IMO more sense and should be on a higher priority than a reserve price feature - if that shall be made at all.