bgriff

Yes -- but my point is, even if you are #1 on the list for 0 seats remaining, getting the Reserve card doesn't guarantee you would have gotten the upgrade. Could be that the person above you on the list was in a higher fare group, which Reserve card doesn't overcome. Also possible the person above you on the list was using an RUC and you were the highest DM not using an RUC, or the person above you on the list was a 360 and you were the highest non-360 DM.

It only gets you an upgrade you wouldn't otherwise have gotten if you were #1 on the list (or maybe #2 or 3 or 4 on the list, in certain cases) for 0 seats, and the person above you on the list was another DM in the same fare class grouping who beat you on the list because they were a Delta Corporate Traveler, had earned the MQD waiver and you didn't, or requested their upgrade earlier than you.

I'm not saying it never has benefits -- just that I would personally put a very small $ value toward the higher upgrade priority if I were trying to justify the $450.