Sorry but he made the Right decision. He was not a good enough Actor to Play that part. Infact he was never that great really. I even heard they dubbed his voice.
That is common practice in the majority of Sword & Sandal flicks. To hear Reeves real voice, simply watch either the musical "Athena" or the Ed "The Weirdo" Wood film, "Jailbait". In addition to those two movies, there are several examples of Reeves speaking on television, both Italian TV and American. Steve Reeves possessed a deep, masculine voice that matched his physique. He was injured (shoulder) during a scene in the filming of "The Last Days Of Pompei", which which was directed oddly enough, by Sergio Leoni.
Reeves (along with Sophia Loren) became the highest paid actor in Europe, earning approximately $350,000 per film. He ultimately chose to retire early as he had lost a couple of acting friends (including Tyrone Power) who died very early in their lives. I have no idea why he chose not to play the role of Leoni's "man with no name" but some say it was because he thought an Italian incapable of directing an American style western. Regardless, he would have done well with the role but Clint Eastwood did great and owns those pictures completely.
I also think that Reeves lost a lot of money in the DotCom crash in the early 21st Century, but I could be wrong. He also married for a third time but not much is known about the woman, Deborah Anne Englehorn. If the photos appearing online of a very young woman and Steve are her, she was much younger than the Shape at the time of their marriage. Steve's ranch in North San Diego County was sold but I haven't really looked into who the new owner is.
Steve Reeves is without a doubt the finest example of a truly natural built physique. Reg Park is up there too and those that think Reg doped need only look at him standing next to Arnold in the Mr. Universe. Reg is well built but Arnold is...Well, he's Arnold and we all know what that means. The Oak is the best built man of all time with the caveat that he took AAS. Without AAS it is definitely Reeves.