What do the numbers in reel ratios mean? How do you tell a good reel apart from a not so good reel? For example what does a 4.4.2 reel mean? If I'm looking for a good quality reel what numbers am I looking for?

Say 7.1:1. That means the spool spins 7.1 rotations for evey full turn of the crank handle.

http://www.bassfishingandcatching.com/fishing-reel-gear-ratio.html

Here is an article for you to read if you want a little more indepth explanation of it.

The ratio of a reel's gears is just a spec, not an indication of the quality of the reel. Outside of personal preference ratio can be largely ignored with little to no real consequence. The most noticeable ratio (IPT) application is using a low ratio in the 5:1 range for deep diving crankbaits and other high resistance moving baits. The article linked above is good info but a longer read.

6.4:1 is a really good all around ratio. Fast enough to do most things well and you can just slow down cranking if you need to go slower as with deep diving baits.

You have to remember that different gear ratios are only applicable to the same reel, you may have a 5.0:1 on a Curado but retrieve a lot more line per turn of handle on a 400 Calcutta with the same 5.0:1 gear ratio. The larger the spool the more line you retrieve per turn of the spool. But a DVC said, absolutely nothing to do with quality!