I just want to make sure this works.
If my character is an elf and takes Reactionary and Warrior of Old, that provides a total of +4 on initiative roles, correct? If you add in the feat Improved Initiative that is a sweet bit of initiative bonus. :)
No. Those (Reactionary and Warrior of Old) both provide a trait bonus and so would not stack with each other, but either one would stack with Improved Initiative because II is untyped.
Okay, thank you, good to know.