For Reigate this has not merged well with the new GTR timetable - it seems GWR trains are running just 4 minutes ahead of the Victoria service meaning it no longer has any opportunity for connection for London Bound rail users effectively reducing the service in the morning peak hours. The removal of the first 2 early morning services has also meant first train is much later than before. (No 05:34 from Reigate - first train now 06:06 to Victoria)
Yes, it does leave some big gaps at key times in the morning peak from Reigate to Redhill. Trains at 05:35 and 06:32 are now shown. I imagine that there will be an 07:32 as well, just creeping through ahead of the 07:36 to Victoria. However, there will now be a gap in trains to Redhill from Reigate between 07:36 and 08:04 at a key time for connections. It means that the journey times from Reigate to London Bridge are:
0535 for 0549 at Redhill (arr 0619) - 44 minutes
0606 for 0638 at East Croydon (arr 0653) - 47 minutes
0632 for 0639 at Redhill (maybe) (arr 0719) - 47 minutes
0636 for 0710 at East Croydon (arr 0723) - 47 minutes
0706 for 0738 at East Croydon (arr 0753) - 47 minutes
0720 for 0729 at Redhill (arr 0759) - 39 minutes
0732 for 0739 at Redhill (maybe) (arr 0819) - 47 minutes
0736 for 0808 at East Croydon (arr 0823) - 47 minutes
0804 for 0838 at East Croydon (arr 0853) - 49 minutes
0824 for 0839 at Redhill (arr 0919) - 55 minutes
Almost none connect into the Peterborough service to London Bridge which offers the best time (30 minutes) from Redhill.
On the plus side for the people who seem to have a problem with it. the level crossing barriers won't come down in Reigate any more than they currently do.
One point to note about the possibility of Reigate platform 3 is that even if it was built you would imagine that the trains from it will be the slow so which currently takes 40 minutes from Redhill. On the face of it, a 45 minute journey time from Reigate to London Bridge on a slow train isn't a much better outcome either.