I have an 11" Logan with a Reeves drive. It is an effective mechanical solution.
I can see why electrical solutions have replaced them. It is quite noisy for one, it also takes up a fair bit of space.
3 phase w/ VFD or a brushless motor is just a better solution, more compact, quieter, less maintenance, probably more accurate speed control and I'm guessing also cheaper.
If the Reeves drive ever fails on mine, I'd most likely just replace it with a 3 phase motor and VFD.