I'm (fluidly) planning a several-month multiple-country journey through Europe and need to determine whether or not to buy a Eurail pass. My itinerary is not set. I will sometimes want the high speed major city to major city, but will sometimes want to travel more slowly and locally. I want a lot of flexiblity but also don't want to over-spend (have my cake and eat it too?). Initially I thought the Eurail pass was ideal for me but I'm having second thoughts since learning advance reservations are often required (how far in advance is typically required?). Any thoughts/suggestions? Troy
Yours could be one of the last few instances in which a pass can break even. If you can buy tickets in advance, the prices are quite a bit cheaper than a pass. But a longer trip needing more flexibility and short-notice trains will not allow you to buy in advance. A few things to consider: Unless you are under 26, you'll need a 1st class pass but could buy cheaper 2nd class tickets individually. You'll still need seat reservations for many trains, but those aren't usually expensive. TGV and Thalys reportedly limit seats for passholders, so you might not get a seat on a train you want. Passes work better economically for longer trips; short trips are cheaper with individual tickets. Also, the type of pass, how many days and how many countries all affect the cost of the pass. You can then compare that to buying P2P tickets. Even if a pass is a little more, the convenience may be worth it. Seat reservations are easy to make and can be done with short notice at train stations (with the above noted exceptions of TGV and Thalys).
Unknowable until you have a more defined itinerary. But briefly, third-party rail passes rarely, if ever save you any money these days. "I'm (fluidly) planning a several-month multiple-country journey through Europe" You'll have to limit "several months" to 3 without applying for special visa. Look up "Schengen Zone" or "Schengen Treaty" on Wikipedia to learn more.
Also, tickets on regional trains (your "slowly and locally" option) are generally cheap, seldom more than €25 for a roundtrip ticket. Compare that to the daily cost of a Eurail pass.