Well... I think Roosevelt would take Georgia and Arkansas, namely because he was considered an adopted Son of the South, especially in Georgia where he usually went while being treated for his polio. Arkansas, as far as I know, still has some New Deal policies in place, and Florida well... Roosevelt WAS pretty liked in Florida.
Reagan would be able to take part of the Jewish vote and win New York, especially when one considers that FDR was actually AGAINST the creation of Israel. Reagan would definitely attempt to attack Roosevelt for his campaign in '32 when running as a fiscal conservative, although, this argument would lose quite a bit of momentum when Roosevelt would hammer back at how Reagan raised taxes eleven times during his presidency and tried to cut Medicare benefits.
Lastly, the choice of their Vice Presidents would also factor in as well, Roosevelt might run with Henry A. Wallace to attract the far left vote while Reagan would run with Bush Senior to attract moderate conservatives.
In the end, a close race, but Roosevelt wins with 286 to Reagan's 252 votes.
