For the veterans on the list, what are the pros and cons of the choice? Am I reading it right?
Yep, you're reading it right. TBH, at the 4-5 point level starter games with Swedes don't worry about what works better. Just get it on the table and see how the game plays. In practice, that is just too small a force to be very effective, even with effects and such.
In general, a 2 base reiter unit which can't be squadroned into something larger (because it's the only veteran unit) is going to have a hard time doing anything useful. A 2 base veteran dragoon unit, on the other hand, can be useful because it can garrison buildings, defend terrain. It's still vulnerable, but you're not going to be charging it at the enemy.
Actually, you could put those 2 veteran reiter bases in with the regular retiers (and give up their veteran stats).. It's a bit of a waste, but again, at that starter level it might be fun.