[jam1]

What happens theoretically to a receptacle when the hot and neut wires are hooked up to the reverse screws?

This is a question about the anatamy of a non GFCI receptacle. Besides the difference in the screw, is the device symmetrical? If it is symmetrical it would seem to make little difference. The situation may make a difference, but in the case where three outlets in a chain find the middle one reverse wired and the first and last not--it seems theoretically to make no difference.

[tkrussell]

On newer 2 wire receptacles, not sure when they started, but if you look close you should see one blade opening or port wider than the other. This is called polarized. The wider blade is intended to be the neutral, note the silver screw.

Very old 2 wire receptacles were not polarized. It took some years for the discovery of insuring a method of polarizing devices, most noted was the screw shells of lampholders. These are always neutral. Also insured that only hot lead was switched in appliances, and other purposes for safety.