your not missing much, I just tried a few guns with Reactive Reload, it's the most worthless thing,
by the time you reload and walk it's over, It last about 2 sec, by the time you aim it's over.
and if an enemy is close by I can grantee you reloading to get damage boost will result in you being dead ,
you better just shoot without the damage perk, it last 2 secs after you reload and considering some guns in PVP can finish you in less then 1sec yeah......
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I use a Palindrome with outlaw, rifled barrel, and reactive reload. The outlaw compensates the time to use reactive reload. It's not always useful, but I occasionally get two shot kills in engagements against multiple enemies in PVP