Hey Mitch,
Thanks for the clarification--I think I understand your situation a little better now. Let me ask you this, are the pages your reviews sit on significantly different than the pages with the same reviews that your competitors have? Meaning, is the only cross-over the review portion of the content?
To answer your adjusted question, I would personally say no--review content is not different than any other type of content that could be construed as duplicate. I am wondering if you could solve your issue by differentiating the pages you have with reviews that match your competitors by adding other types of content to them. This might help add valuable context for a search engine as well as differentiate the page enough to help an engine sort out that they are different even though there is some content overlap. Just a thought.
My other thought on this is that maybe it's worth setting up a test? This is certainly a gray area and there are probably people who would have differing opinions from mine, so perhaps a good next step is planning and working on a test to see what happens with a small portion of pages?
If the content isn't thin, it sounds like you shouldn't have an issue with an algo like panda, so I don't see a huge risk in the test from what I understand of your situation.
If I've got your site right, I'm guessing you're asking about pages like this: http://www.gooverseas.com/study-abroad/austria/ies-abroad/47342 and whether or not you'd allow them to be indexed because the reviews at the bottom might be on other review sites. Again, if the content on the rest of the page is significant and not the same as what's on other similar pages, I wouldn't worry to much about it. If it is, I'd run a test and see what you can do.
Without doing more research, that's the best I can offer at this point!
Oh, and you might want to look into this (2 of many)...
That does look like something that would get you hit by panda.
Hope that helps and sorry if I'm still not understanding the question correctly.