Uhm... No. ext3 does full journaling, reiserfs does not. Then there's also the pesky little issue of reiser recovery tools being far less reliable than the ext3 ones.
ext3 is just rock solid. It's based on ext2, which has been in the Linux tree for practically forever. Any rescue utilities that work for ext2/3 have also been around for a long time (read as tested).
While JFS and XFS as technologies are considered old and tested, too, they are not old and tested in the Linux kernel like ext2/3. So far I'm happy with XFS, yet for critical production I use ext3, and for development, personal, and "performance > stability" I use XFS.
Reiser4 is a nice toy to play with, but I gave up on it months ago as it really made my kernels less stable, and I didn't see any real benefits. On the [ck] mailing list, I even posted some benchmarks against xfs and reiser4 using a real world test case, and XFS was better by a small margin. reiser4 uses too much CPU, while xfs does not.
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