I really have no issue with Reynolds as an actor, but the guy just isn't GL or Batman. He's Wally West version of the Flash.
See when people say that, I assume they only watched the JL cartoon, which made Wally into a cross between Hal Jordan and Plastic Man. Ryan Reynolds was made to play Hal Jordan (who is a wise-cracking, cocky, steal your girlfriend type of character). Wally West is not a goof like that in the comics. He would be more described as generally friendly. Not dark like Batman, not as sensible as Superman or reckless like GL (Hal Jordan). I can remember one time when either Superman or Batman said to Wally West and Kyle Rayner "When you guys are alone you are so sensible, put you together and it's like a couple of kids." Because that's how Wally and Kyle are when they get together, good friends like Ted Kord and Michael Jon Carter.
Anyway, Ryan Reynolds is my favorite actor, especially when given serious roles (
The Amityville Horror and
Buried for example), and Batman is my favorite character. However, being that these two are my favorites in those categories, I would not want to see Reynolds play Batman. I would love to see him resume his role as Hal Jordan though, with a solid script and new director. If Mark Strong would have had more screen time as Sinestro in GL it would have been a lot better.
Also, I never read the original posted article since I follow this stuff and know it's not even credible enough to be considered a rumour.