I did a tour as an Army recruiter from 2001-2004 and I got to know my competition well. There have been some changes since then, but I don't think they were anything too drastic. The GI bill is the same for all branches, but each branch has an additional college fund that you may qualify for.
Something you need to think about if you're looking at the reserves is job availability. While you may qualify for a whole lot of jobs, there will be much fewer available in your area. If you are set on being an MP, for example, and the nearest MP unit is 300 miles away, you may need to consider a different job (or a different branch). Be sure to talk to recruiters from all the reserve components and find out what types of jobs are available.
If you want to talk about active components, PM me and I will give some pros and cons for each branch.