I've been on and off reserve in EWR for about five years now (more on than off actually).
Living local rsv on the 777 is easy. You will get SCs, but will rarely actually get used on them. In fact, most people who don't want to fly use SCs to keep themselves lower in the silos during their reserve stint.
APU has worked pretty well to break guarantee and/or control my schedule.
The one thing that does suck, and it's been mentioned already, is the rolling of days off. If you need your schedule for the month to be set, then RSV isn't going to work out. I don't get rolled all that often, but it's just often enough to be annoying.
I'd write more later but have to depart here... PM me or ask here if you have any questions.