I am WAY too lazy to thread tape and wait for tape to rewind, but, I have heard The Tape Project copies and other high quality dubs and the sound is quite superior to vinyl and any digital sources I have heard--open and detailed sounding while managing to sound relaxed, smooth and natural.
The United Home Audio people who recondition reel to reel machines and equip them with superior parts also like to dub their records on to tape. I have been to their showroom and heard a comparison of the record being played to the tape made using the same record playing gear. I can see why they like the sound of the tape copy of their records (actually smoother and less edgy), but in some respects I liked the records more (slightly better dynamics).
The BIG problem is the lack of decent pre-recorded tapes being available. The stuff you can buy from e-bay varies greatly in quality and the really good duplicates, made by the likes of The Tape Project are extremely limited in number and in the size of the catalog. I doubt that there will be much of a resurgence of reel tape.