At the price of B-Ionic it is cheeper in the long run to get a clacium reactor?
For anything except a small tank, yes. Limewater is also inexpensive. I compare costs here (although the prices are a bit dated now):
How to Select a Calcium and Alkalinity Supplementation Scheme
http://www.advancedaquarist.com/issues/feb2003/chem.htm
I am so glad I never gave away any of the 5g bucket of Pedlow I bought. I know the guy I got it from bought it several years ago, so it should be fine, right?
Yep, it lasts forever.