T-bone,
I'm at FDX, not Delta, so I don't know the ins and outs of your reserve rules. However, I have bid PM reserve in Memphis a few times and sprung for my own hotel. Here's some of the stuff I've done during that time:
1. Completed ACSC and about 50% of AWC
2. Written some of my courseware
3. Worked out at local gyms
4. Gambled at Tunica
5. Explored the countryside driving around on pretty days
6. Visited libraries
7. Gone hiking...
8. Pay bills, balance accounts, send overdue letters to friends, etc etc
You get the idea...
If you want to lay around a stinky crashpad smelling 8 other guys, you can do it. You can also spring for a nice pad with a room of your own or (in some locations...maybe not NYC) get a hotel at 40-50 a night. Probably not perfect as a new hire but once your salary pops up it ain't so bad.
I don't look at reserve as a bad deal--I look at it as getting paid to do what I want/need to do during that time. I used to do all my military queep on that time, so when I was home I could enjoy my time with family. No excuse for carrying lots of extra fudge around if you have access to a local gym--paid to work out doesn't stink either.
I think its a mind-set. I love to fly, but I also work for money. If the company is willing to pay me for not working some days, I can find something productive to do with the time. Some guys hate it--end up bored in front of a TV--but that isn't my style. This month I'm lucky enough to hold 24 hour callout at FDX, and the days I'm not working I'm paid to be working on our farm. You can't do that from the Langley area, but you can figure out some of the other queep you need to do in life and use the time wisely.
Also--like most new guys--you think about MONEY. You want to follow MONEY right now. After you taste being able to control your schedule a bit (something the AF never let you do...) you will start to like CONTROL, and you will resent anything that diminishes that control. That is probably why guys hate reserve more than anything besides time off....it takes away their ability to move trips, trade, and control their day to day life. You, however, have another tool (mil leave) that will help you manage your schedule. You'll be working hard as you do 2 jobs, but having done it 6 years I can also say you'll enjoy a lot of the aspects of both jobs too.
Good luck on your new adventures...