For the money, Redington makes a solid reel. I've had no problems with those. For a little more, the Ross CLA is a good tool. I would second the remarks about Bauer reels; those are sweet, but too spendy for a man of my means. I have a couple older Lamsons. Super smooth, but the drag does seem to loosen up the first time they get wet each day. No biggie; just tighten it up a bit more. I have heard lots of good things about the new Lamsons.

Enjoy!