^^^pfft

I'm not biased in my thoughts. Because I'm not sponsored nor do I sell any kite brands. So I am happy to inform my thoughts on my experiences with the kites the OP has asked about.
I think you should actually try an Airush Wave, before you start spouting kites with pulleys are spongy. It definitely does not feel spongy, nor is there any kind of lag between me asking it to do something. Like I said, earlier, I find it an extension to my brain.
I do remember when I pulled all the depower rope when the wind picked up the Reo was a dog. Maybe they have sorted that out, but at the time to me that was a bag of ****e in comparison to the Wave, which still has good control when fully depowered.
Also when at the top of it's range, the Reo was heavy and wooden in feeling.
I'm open to other brands but I found the Wave way better than the Reo, when I was actually riding the Reo's. I haven't tried the latest edition Reo's. I've yet to find anything that suits me for strapless riding other than the Wave. But that's
my opinion.
I find many riders prefer the pull and go type of kites, where'as I prefer a kite that is engaging to fly and requires input and skills to get the best from it. There are not many riders like that, as they don't have the time nor patience to learn those skills. They just want to get on the water and pull and go. And a few of the brands list "pull & go" in the specs of their Waves kites, as a trait of the kite.
If that's what they want, then so be it. But sometimes, when they step away from their easy kites and have a go on something that is engaging and rewarding, they realise, how much fun it actually is. But, it's not for everybody.
When I started I had pull & go kites, because they were easy, but as my skills improved, I needed to get away from them. When I first had a demo of the Reo, I was blown away by how good I thought it was. And it was better than what I was using at the time. But then after a few months of ownership I had a few bad sessions on the Reo's and got frustrated by them to the point of not actually wanting to use them. I sold the 12 first and was glad to get rid of it. The 10 was sold not long after that.
Then I had a demo of the Airush Wave, it was light and day different. I was lucky enough to hang onto that demo for two months, I thought the guy had forgotten about me. He was cool and I bough that kite, because I didn't want to spend any time without it, in case wind came while I was waiting for the 'replacement'.
Earlier this year I was tempted by the Enduro, due to it's Freeride & Wave settings. I nearly had a demo of a V1, but didn't due to having to make the effort for a 3hr round trip and I didn't want to buy from that reseller.
I recently spoke with a guy at my local who has just changed from a V1 to V2 enduro. He loved it, but others I've spoken to haven't. I think it's good, but it's still a kite that tries to be many, but is not specifically on one. Seeing as I'm 98% strapless now, I want something that works for me in that discipline.
Stick to the facts, stop trying to cloud the discussion. 
You say the Bandit & switch blade are good kites. But they are completely different beasts. They are not Wave specific. I don't understand why you would want to chuck in some information to cloud the difference between the Reo & Wave, which, after all was the OP's question.
IMO the Bandit is an awful kite. But many love it. But it is def not for me.
They may have pulleys, but that's where the similarity ends.
For sure the Zephyr has a massive wind range, but it's not a wave kite. So why are you chucking in that info? In a thread about Waves kites?
Stick to the facts, stop trying to cloud the discussion. 