One rank of Quick Draw gives you either the ability to draw as a free action or to reload as a free action with buying two ranks giving you both. They probably should be separate feats, much like how Distract, Fascinate, and the like work. *wry grin* Of course, now you have the problem of the existing builds... assuming there's no way to set up an auto-change, the easiest thing to do would be to add a Quick Draw (reload) since most people get the Quick Draw for (draw), possibly with a Pre-Req such that you can't pick up the Quick Draw (reload) if you already have two ranks of the other Quick Draw.
^_^ Or maybe just something to remember when you're doing the 3E conversion, assuming they keep the structure of the feat.
^_^ Or maybe just something to remember when you're doing the 3E conversion, assuming they keep the structure of the feat.