When I put mine together, I put the reserve on the right ('73). I like Brian's idea of the reserve tap on the left, so you can switch it on with your hand on the throttle, but I also like the main tap right next to the ignition, sort of a reminder to turn off the tap when you shut the ignition off.
+1 on LABs comment about the Emgo taps. Mine had poor fuel flow, and I found the cylindrical rubber gasket was installed backwards - the right way, the holes line right up with the tap; installed wrong way 'round, the holes only allow about 1/4 flow. I also de-burred the valve, which was scratching and gouging the rubber. I guess $16 doesn't buy much these days.
A couple of Meriden Triumph guys I know run both taps open when going high-speed, and I've found that extended runs over 4500 RPM can lead to a bit of starvation, so I'll switch on the reserve on those rare :roll: occasions.
I've also found that I can can poor fuel delivery when the tank is nearly empty. I guess the fuel pressure is pretty low when its down to the last 1/2 gallon.