They both work well but you will find most reefers use a Ca reactor. I have used 2 part for years and seriously considered going the Ca reactor route during my last tank upgrade. The 2 reasons I didn't were:
1) I was allready very comfortable running a tank with 2 part
2) Even with the purchase of a Litermeter and a second pump it was still much cheaper than a reactor.
With the cost of a reactor you can't forget about CO2 tank (extra tank), pH controller, cost of media and a good quality regulator in addition to the reactor itself.
Just relating my experience, Chris
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"Try to learn something about everything and everything about something" -- Thomas H. Huxley
Current Tank Info: 70 gallon mixed reef
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