What's the editor support like? TypeScript has industry-leading editor integration with insanely fast response times. I'm always wary of new languages for this reason; I've been burned before by Facebook's own Flow type system.
I used to use IntelliJ, and there was a solid plugin for that as well.
ReasonML's compiler is way faster than Typescript's.
In terms of compiler speeds, Draftbit has 1,000 ReasonML components and about 100 TypeScript files.
I can safely build AND type the entire ReasonML project before TypeScript returns the type results in watch mode.
But to answer your actual question: The current standard (reason-language-server) does simply wrap the compiler, and it's more than fast enough, but the community is working on a new merlin-based language server (ocaml-lsp) which does support partial compilation.