More reliable than CF? nope.. CF is true IDE and takes no conversion through the pcmcia slot or ide on amiga. Its straight through,making them utterly more reliable with minimal access time. SD requires adaption from the parallel ide to serial style the sd card is which requires a custom chip, this not only adds latency(slower access time-although not that noticeable),but it one more conversion.
You are right in theory, but in practice getting Compact Flash card working with Amiga is a lottery. I've read endless threads about which cards work, which do not, there are even some working in CF2IDE, but not working in CF2PCMCIA or the other way around. SD cards just work. Any brand. They are also smaller, so easier to fit, especially when you have internal scandoubler, turbo board in A600 and so on.