Having seen KA first, I had high expectations for La Reve. Long story short, KA blows La Reve out of the water.
La Reve was good, but not great. I have seen La Reve twice. Though the two shows are completely different, KA was hands down a much better show.
I was offered a great deal for the show - 50% discount for Military/Federal Government, so it was worth it for the price. The atmosphere in the theater is truly wonderful. The theatre offers plush valour type seating - quite cozy. I agree that there is not a bad seat in the house, so opt for the most economical tickets.
La Reve offers strong acrobatics, serene water diving, and an interesting plot. Undoubtedly, the best theatre show seating in Las Vegas. However, I've seen better.