Based on the dozens (at least) of papers published each year that use twitter data, I'm pretty sure it's kosher to use public posts. You might want to double check with your irb though. Depending on how you present the information, so users might be concerned about their privacy - I wrote a bot that replied to people posting variations of 'your comment history' with a link to the referenced person's redditgraph and several people said they were creeped out by it (a little more here, if your interested: http://www.roadtolarissa.com/redditgraphs-retrospective/).
Depending on what you are looking for the rate limit might slow you down a lot; you might want to contact the site admins:
> tl;dr If you need old data, we'd much rather work out a way to get you a data dump than to have you scrape.
https://groups.google.com/forum/?fromgroups=#!topic/reddit-d...