i get 3 choices of file sytems when i install linux

ext2 -- ext3 -- ReiserFS

...what are the features of each and which is better to use, meaning most stable, supported and reliable

ext2 is what might be called the "standard" file system for Linux.
ext3 is basically ext2 with journaling added.
ReiserFS is a more-sophisticated journaling file system with some internal database stuff -- part of what MS Longhorn is moving toward.

A journaling filesystem basically keeps track of hard drive activity in such a way that makes recovery from a hard crash or power failure much easier. When fsck (FileSystem ChecK) is run at next boot, it has a table to look at so some data can be salvaged that might otherwise be lost; the fsck process also runs much more quickly than under ext2 or FAT.

I recommend the use of ext3, rather than ReiserFS, for home use. Though either works well, ReiserFS has a somewhat higher overhead. Further, Reiser4 is nearing release. That having been said, I am running Reiser myself -- partly as a learning tool.

Another advantage of ext3 in this context is that most tools that support ext2 also support ext3--though most tools support Reiser nowadays, as well.