Reservoirs are good for holding heat? Well, I guess it does reduce the variance from temperature swings, but it doesn't really help much for a stable system.
However, they are good for other things.
1. Trapping air so that bubbles aren't running through the system. Air reduces the efficiency of the water coolant. Air also makes the system louder.
2. Keeping a reserve of coolant so that normal evaporation losses don't require that you refill the system every month. Unless you have an airtight seal on the system, heating and cooling the system will cause air to move in and out (like breathing) and that will carry moisture out of the loop.
3. Easy refill point.
4. Looks 133t with UV dye and a UV light!
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