...I was not knowledgeable until I read that "Ouzo" report. I then realized nearly every reflector I have seen on every boat I have sailed on is set wrong. Real eye opener for me.

And yeah, it looks like sded has his set wrong too.

Here is some description from another source of the action of the "catch rain" position.

The classic octahedral reflector is made of three planar circles or squares of metal intersecting at right angles, forming eight trihedral reflectors. In the usual "catch rain" position, one trihedral will face up and one down, and the remaining six are arrayed around a circle, three oriented 18° above the equator, and three 18° below. This optimizes the return from the "pockets", and avoids the nulls or gaps as best as is possible, but only at a 0° angle of heel.

From http://www.ussailing.org/Safety/Studies/radar_reflector_test.asp

Also worth a read. See the illustration below, note the catch rain position... and the double catch rain position.

Edge on is NOT RECOMMENDED.

Fair winds