Reaver, what an interesting fellow he is. I love the character, he's a total... a word has yet to be devised for what he is, but he's a total one. He's the guy you love to hate; if and when I get the opportunity to finally end him I will do so with utter relish and glory in it as the culmination of a fantastic love/hate relationship. Let me be clear now, I can't be a bad guy. I just can't bring myself to it. Murder? Never. Child labour? Free education for the masses, please. Crunchy Chicks? Just say no.
However, the discussion centres on whether he's evil. I believe he is, He's lived so long and killed so many people he's forgotten what it even means to care. Once there was a soul in there, but he's slowly burned it away over the years (my personal guess is that Reaver made his pact about a century after the events of Fable, so that makes him 550 Y.O. or thereabouts) with hedonism in an effort to stop the pain. He's abandoned morality so he doesn't have to think about his own action in any sort of moral framework, to ignore his responsibility for the destruction of Oakvale, amongst other things. But being Amoral doesn't mean you can claim your actions have no natural morality, both intention and action define good and evil, and Reaver's behaviour is manifestly evil. He kills people for no good reason, abuses them for profit and generally takes from the world and the people who live in it with no thought for the consequences or any sort of compensation. Personally, I think of Reaver as a tragic character, a Narcissus who's punishment wasn't to become a flower, but to live with himself. Deep down I think Reaver really just wants to die, but he's still afraid of the end. "Besides," he lies to himself "I'm having so much fun".
He's an egotistical lunatic with a totally selfish mindset who'd rather burn out than fade away. The problem is that, unlike a truly mortal hedonist from our world, he'll just keep right on burning... potentially forever.
Reaver is an evil monster who needs to die, for the good of the world and to put him out of his well-concealed misery, but I have to say I adore him as a villain. He's done so many despicable things with an undeniable panache that the list of his misdeeds would come in twenty 1200 page volumes, and I can never forgive him for killing Barnum.
But isn't that the point?