I think its out of his hands. But then again, what did you expect Reed to say? They can keep the specialist system, as long as the ecns are on an even playing field and instant execution is required - the structure of the NYSE is irrelevant.
i find it comical every time i see nichols of instinet on there complaining about manipulation and specialist abuses, when on the instinet commercial itself, there is a guy working a large buy order, and he says "alright, i'm going to try to bring it in now." not hypocritical at all. i never understood his argument either. you can post ECN bids and offers all day long as it is.