A lot of people are happy with the balling method but I find the extra labour, expense and chemistry work to be a deal breaker. You need to use special salt with less chloride and Buy & store bulk chemicals which are highly corrosive. It opens the door to human error and batch variation.
The equipment cost of a calcium reactor is about the same as the dosing pumps required for chemical dosing (balling). The annual cost of media and Co2 for a calcium reactor is about $50, and labour is about 1 hour. With a well built CA reactor you "set it and forget it".
Our tank will be heavily stocked with SPS so we have added a Kalkwasser (Nilsen) reactor in the even that the calcium level cannot be maintained by the Schuran reactor. We will not add any calcium hydroxide powder to the kalkwasser reactor until we see a demand.
The CA reactor has 85% (large) Caribsea media, and 15% dolomite. The dolomite is there to keep magnesium high which is sometimes a challenge with CA reactors. Alkalinity is never an issue with CA reactor use, but I add sodium carbonate and bicarbonate to bump it up for the first six month to encourage coraline algae growth.
Mistakes happen and chemical roller coasters can result with any form of chemical dosing. I have found in my experience that a properly sized and designed CA reactor is all you need to cross water chemistry off of your list of reefkeeping duties.
If you ever get into trouble with reef chemistry, this calculator can be your best friend.
http://reef.diesyst.com/chemcalc/chemcalc.html