Performance data [ generated with: iozone -s 4000m ]
ext2 (tuned down to 520128 inodes)
                                                           random  random    bkwd  record  stride                                   
              KB  reclen   write rewrite    read    reread    read   write    read rewrite    read   fwrite frewrite   fread  freread
         4096000       4   62859   63910    56285    56582    1294   13845    2881 1028429   15933    53412    49914   49458    56755
         4096000       4   43739   48893    56802    57455    1295   14021    2877 1039492   15673    41915    54513   48617    57555
         4096000       4   41200   51875    57314    57528    1293   13858    2881 1047439   15936    47118    50117   48596    56546

reiserfs
         4096000       4   56614   55643    51745    52138    1276   14240    2843  536523   15346    55389    53451   49935    52384
         4096000       4   54734   55940    51097    52071    1249   13895    2837  535486   15413    55742    57185   50779    51448
         4096000       4   55258   57108    51790    51754    1275   14177    2842  533400   15483    56940    54189   50832    50860

xfs
         4096000       4   68304   74374    55794    56500    1281   14274    2841  934447   15531    73963    75324   56042    56657
         4096000       4   63627   77829    56711    56720    1272   13801    2838  981083   15939    72155    75208   55958    56381
         4096000       4   63335   76078    55433    57073    1273   14134    2835  930591   15058    66180    75720   55255    56524


Space efficiency comparison

ext2
Filesystem           1k-blocks      Used Available Use% Mounted on
/dev/sdd1            710025700   9446452 665072388   1% /storage

reiserfs
/dev/sdc1            710115552     32840 710082712   0% /storage

xfs
/dev/sdd1            710050544   4106940 705943604   1% /storage