Do you recommend a reverse proxy instead of a hardware-based load balancer?

[ChadThomsonPSC]

"Do you recommend a reverse proxy instead of a hardware-based load balancer?"

[ChadThomsonPSC]

If the option to use both is available -- use both.
One managing network concerns; The other managing application-specific concerns.

If you have hardware LB, continue to use it. Hardware/Network load-balancer appliances can vary in functionality and "awareness". Assuming the LB in-question operates at the OSI layer 4 level (transport), it would be able to route inbound traffic to the correct application 'cluster'. The application reverse-proxy (with say Apache, Nginx) will be used for other application-specific tasks (and load-balancing), e.g. URI rewrite, or possibly serving static resources.

With the OpenEdge Kemp LoadBalancer product, more advanced application and network proxy configurations can be implemented.

If you have no need for this level of functionality, continue to use your hardware LB alone.