I have a vacuum chuck and use it for a variety of things, not just reverse turning bowls. I often reverse turn bowls using a mandrel between centres and the limit of turning over the bed isn't usually an issue as my biggest lathe will do 24" over the bed.
The decent vacuum chucks (airpress, Oneway etc.) are eye wateringly expensive but should last a lifetime. I know of several people who have made their own chucks, either from wood or plastic pipes and they seem to be happy with them.
There's an article
on my website you might find of interest.
There are times when a vacuum chuck won't work. Some woods are so porous the pump can't create an adequate vacuum and bowls with holes/cracks don't work too well either! However, I have managed to keep a leaky piece of wood on the vacuum chuck by putting a layer of clingfilm over the area above the chuck. This only works if you aren't cutting in the same area as the film...