Question: What is typically regarded as more Pythonic/better/faster to use, the reverse method or the reversed built-in function? 

Both in action:

```
_list = list(xrange(4))

print _list

rlist = list(reversed(_list))

print rlist

_list.reverse()

print _list

```

Answer: 
Depends on whether you want to reverse the list in-place (i.e. change the list) or not. No other real difference.

Often using `reversed` leads to nicer code.
Without knowing real stats about performance, `_list.reverse()` modifies the list itself, whereas `reversed(_list)` returns an iterator ready to traverse the list in reversed order. That's a big difference itself. 

If that's not a problem, `object.reverse()` seems more readable to me, but maybe you have specific speed requirements. And if `reverse()` does not belong to 80% of software that's consuming resources, I wouldn't bother (as a general rule of thumb).