Andrew,
Thank you. Yes, we probably need a help page that specifically addresses what is a reliable source. (and probably not here). The Pre-1700 Profile help page references a G2G discussion on reliable sources. There is also a discussion on the Help for Uncertain. And, 5 of the project pages have a good discussion on determining if a source is reliable. And the introduction for a reliable source here needs to be refined. It might be a combination of some of what you have written above and some of what is written on various project pages.
I'm confused on Frauds and Fabrications. See my response to Jim. The frauds introduction actually says 'fake information in an otherwise valid genealogy' which implies to me that parts are really bad but parts are okay, which would seem like Reliable with Conditions. Again, we might need to review each of the frauds and each of the projects to see where any of those might be specifically mentioned (other than Pre-1500 where at least one is reliable with conditions).
It's tough to craft an overall placeholder for all of the projects. What would we put in Reliable with Conditions? Perhaps FindAGrave (see comment to Jim above)? Maybe Wikipedia, although the Tools->Cite this Page says to use it for further research). Maybe Our Royal, Titled, Noble and Common Ancestors which is categorized differently across projects?
As for CD-ROM, well the method of distribution of a source has absolutely nothing to do with the reliability of that source. (Color me idiot!) So instead where the Ancestral File, Family Data Collection and others are listed it should state that those are not a reliable source whether obtained online or distributed as a database, possibly on CD-ROM.