You should use both mic positions and reverb. Mic positions for presence/"dry mix", and reverb for perceived depth. Generally, you want mostly close mics for the flexibility of using reverb, but having some percentage of stage mics enabled helps creates natural width. As for reverb, this video may help you to remember (?) what each reverb parameter does.
I would use reverb instances on collections of instruments, namely a separate instance for each woodwind ensemble, strings ensemble, brass ensemble, etc (i.e. in a Send). You've seen this image; maybe go back to it and see what you now can get from it (remember that the times are decay times). Here are some posts I remember that may help.