Great topic, yeah Reithoffer has had and still has some great stuff. I am not sure they had 2 Rainbow's but I know at least the one.
Saw his Diver here back in 85, really nice looking with orange/white but had a terrible oil leak.
I loved that he liked keeping some good old classics for a good while like the Twister, Cobra, Scat, 2 Tip Tops, Hurricane, Scramblers and such. He had that Scrambler in the tent as well with the light show.
He booked a good many rides too as needed, remember seeing some booked in pieces at the Piedmont Interstate Fair like a Sea Ray one year.
Remember the Bates Hotel as well, really sharp piece with theming on the back.
I often wondered about the Wave Swinger as well and why they went with YoYo's, which are good rides. One ride I don't ever remember seeing either was a Spider type ride, did they ever own one?
Interesting note, Reithoffer's Rainbow is in Austin TX at Wonderland Park along with Conklin's Drop of Fear, and I think their Himalaya may have been Reithoffer's green unit Himi, but not sure of that. You can visit their website and see the ride and map view. They have a Huss Pirate as well, not sure where that one came from.