Sam Palermo:
"...the best way that I can think off is the surround foam system if you can find a place to do it. They spray some in the appropriate size box put a sheet of plastic in before it sets up totally and then the equipment, then another sheet to cover the machine and then the foam fill the box to the upper edge. After that is correctly done, that packaging can be re-used for that machine many times. The problem is you have to seek out a company that has a machine like this and is willing to allow you to have them do it for you. Peanuts that they use these days are not only an annoyance to the end user but worthless to people with heavy items as reel decks- DON'T USE THEM."

Rolf:
"About shipping heavy electronics... I ship reel to reel decks all the time here, and not yet had one damaged, (knock on wood )...
 There is a way to ship it right Dan and I only ship with UPS nowdays.
UPS ground works great for me. Even overseas several times shipping reel to reel 50-60 lbs packages without any problems.
Using a sturdy box, put a layer of peanuts on the bottom first(3-4 inches), wrap the deck with soft packingpaper so no scuffmarks will occur, then 2 layers of thick bubblewrap around the deck. Lay it on the peanuts with at least 3-4 inches space all around to the sides.Faceplate facing up. Secure each corner with styrofoam so the deck can't move to either side. 
Fill the rest with more peanuts, also the top is the important part, reel tables are the first thing that can be damaged or headcover.
At least 4-5 inches to the top with peanuts, then seal the box with packingtape all around the box. For heavier decks 50-60 lbs using a second box with peanuts on the bottom and 3-4 inches of space around the first box, more packingmaterial to secure it. Labels on all the sides with Fragile Electronics, Handle with care etc. 
UPS or Fed Ex works great Dan, of course even if your deck is insured it can be complicated to file a claim against the carrier, because of poor packing from the seller..."