To me, this is not a reprint set. This is a new/modern card set depicting vintage players created with a vintage design. A reprint would be re-producing (re-printing, if you will) a vintage card or set, such as OJ, T206, etc. As a graphic designer, I appreciate the beauty and creativity in these cards.
Further, there are other really nice, modern cards or sets depicting turn-of-the-century or pre-war players that are not reprints, just modern day offerings of classic ballplayers. Other examples of really nice cards like these are the Ronnie Joyner 1944 St. Louis Browns set:
http://www.ebay.com/itm/1944-ST-LOUI...item565ec46395
And also the Infinite Baseball set:
http://www.infinitecardset.blogspot.com/
Would you judge either of these to be reprints? I would not. Should these be slabbed? I guess that would depend on the collector. Personally, I don't buy/collect graded cards, but that's just me.