Around here Reed Canary is gaining popularity with cow-calf producers. It is most often seeded with alfalfa, and managed as hay. We just planted some last year in a mix with alfalfa, trefoil and brome grass. What we have learned in this area over the last 10 years is if you DON'T put nitrogen on, (I would say at least 60 lbs per acre) you aren't going to see the benefit of RC's big yield potential. When managed for hay, or intensively managed in a grazing scheme it will last forever. (No joke, it is more aggressive about filling in holes in the stand than brome grass. It will become effectively sod-bound, and still produce tremendous amounts of forage.)
I would like to try some with kura clover, but KC seed is very hard to find around here. The two should compliment each other well. Both very aggressive, but slow to establish. Oftentimes we won't even see the Reed Canary until three years after planting, then the following year it really starts to take over. A cousin of ours made the comment about some Reed Canary/Alfalfa hay he cut inJune '08: "We've cut corn silage that is shorter than this!" It probably outyielded the corn silage that field grew this past year.