It strikes me that buying warrants that are in the money already and convert at $2.05 for $2.11 is better than paying 80 cents (or around that) for warrants that convert at $4.60....

If RVX gets to $5 (strictly hypothetical) then the $2.05 warrnts wil be trading for $3+ the time value premium.  At $5 the $4.60 warrants would be trading at .40 + time value premium. 

Converting the warrants, again "assuming" a $5 share price...the RVX.WT warrants return $2.95 in profit each, while the RVX.WT.A warrants only return 40 cents.