In [9] we have considered a wide class of "well-behaved" reducibilities for sets of reals. In this paper we continue with the study of Borel reducibilities by proving a dichotomy theorem for the degree-structures induced by good Borel reducibilities. This extends and improves the results of [9] allowing to deal with a larger class of notions of reduction (including, among others, the Baire class ξ functions).