Welcome to the forums, elkbane!
I shoot a brand new 2006 Reflex Highlander and absolutely LOVE IT!!! Read my review about it on the "Bowhunting gear review" forum.
Or better yet, just click here:
http://www.huntingnet.com/forum/tm.aspx?m=1449496
Reflex and Hoyt are made by the same company (Hoyt)in Salt Lake City, Utah. Hoyt is the top line bow and the Reflex is the secondary line, but still an outstanding bow. Someone posted once about the difference with Hoyt and Reflex and put it into perspective like this:
Think of Hoytlike a professional baseball team
Reflex is the AAA farm team for Hoyt.
I shot a Hoyt ProTec once and though I had died and went to heaven. They are incredible! But they cost serious $$$$... So I found the next best thing. I found Reflex bows which is essentially a Hoyt but not all tricked up.
The biggest different in Reflex vs Hoyt is the Hoyt's "Cam & a half" system can be adjusted in 1/2" increments. Reflex "Slam & a half" system can only be adjusted in 1" increments. (29" draw length cam on Reflex. 29 1/2" draw length on a Hoyt.
Either way, both bows are incredible! I love my new Reflex Highlander and feel that it is in every sense a "poor man's Hoyt Ultra Mag"