At this current time... yup ahead of Reina. Coming from someone who would watch Liverpool regularly when they had Alonso, Mascherano, Arbeloa, Aurelio and Torres, Reina always stuck out in a bad way. If you've ever thought Valdes has some really bad blunders or can't cover his near post then you haven't seen Reina. Remember the balloon incident against Sunderland? There was a long period where LP were in Sunderland's half and he could have easily cleared the balloons to have a clear box but nope. Reina without a doubt would be a huge step down. We might as well just promote Oier because he can't be any worse then Reina.
I was actually going to post a video of his worst mistakes but after watching it, honestly I feel bad for the guy. So I'll just leave u with this one...