My experience with the Reorder List in the Ajax Control Toolkit, as with many other 3rd party providers, is that most of them don't seem to be worth the effort. Definitely try them before you buy.
Unfortunately a lot of the samples/components out there are all too client-based and always seem to fall short on real-world uses and the sorts of interaction you need with ASP.Net applications (e.g. handling postback). Dragging a div around isn't that complicated, but that's all a lot of examples do. If your needs don't exactly mirror their offering try something else.
The Manning book ASP.NET AJAX in Action is a good reference on code for performing drag and drop. It uses Microsoft.Web.Preview, but this hasn't been updated in quite some time which is a worry. I have created a pretty good drag and drop UI with MS's PreviewDragDrop, it does work cross-browser, and it's pretty easy to code. Preview DLL's aside, the Manning book is great for understanding Microsofts AJAX API.
However, since jQuery is going to be shipped and supported with Visual Studio, I would recommend using it over anything else in a vain attempt to future-proof yourself.
A final piece of advice is never outsource your core competency. If this page is a core part of your offering you're better off implementing it yourself using library code like jQuery or Microsoft.Ajax rather than relying on a 3rd party component. However, if it's just a minor part of your site, then go ahead and use 3rd party controls.
Ref: My Version of Microsoft.Web.Preview.dll is 1.1.61025.0.