+1 on the reactor, like many have said, big initial cost, after that it's pretty pain free. I picked up mine used, great deal. The only issue's i've had with mine have been air lock in the lines, but i think i've fixed that with shorter lines now and everythings been going great. Reading about it online everyone was saying how difficult it was to dial in, I've found it very simple. I set it to the avg stocked tank recomendation, then tinkered for a couple days, and my PH/ALK have been perfect since.
The PH probe can make it easier to set up, i don't use a PH auto shut off, never had any problems. The only thing that could go REALLY wrong would be extra CO2, and i have no idea how that could happen. (Insert crash stories here?). Temporary extra flow will raise the PH in your reactor making it less efficient, but won't nuke your tank unless your reactors very big. And yes, moving hoses around and stuff one day you will bump the adjustment and realize your 1 drop a second has become 5 :S
My recomendation to make it even easier would be a good needle valve for CO2 flow. And pick up a bottle of 2 part for while you set up, Reactors are made to hold your levels not build them, you'll be constantly fighting it if you try to pick up your ca/alk with a reactor.
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