People really need to get this through their heads here. The arbitration process takes into account stats and comparable salaries in other players. Reimer will get AT LEAST what Bernier was given before the start of last season, though he'll likely get more. I'll be surprised if Reimer gets less than 2.8 million. A lot of people here focus on his game 7 play, or the last few games of last season, but those won't matter to this process.
To preface my comment, I'll openly say that I think Bernier is the better player between the two goalies however....
The question is: was last season truly representative of both players potential and abilities? It's fine if one thinks it is, but it's also just as reasonable to suggest that when you take the past several season's into account (Bernier and Reimer have very comparable stats, and one could even say Reimer's is more impressive given the mroe games he's played at the NHL level), James Reimer has the potential to put up much better numbers, and that Bernier may not be capable of sustaining that level of play in future. If the leafs continue to give up 35-45 shots per game, its statistically likely that Bernier save percentage will regress - how much it will regress remains an unknown.