I use the Ambassatuer 5500, and the Shimano Corsair 300. Both reels are under $70. I haven't purchased the "new" 5500, but plan to pick a few up for next year. If I had to choose between the two I woud lean towards the 5500. For $65 it's a wonderful reel. Good luck.
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TH
TH Custom Rods
throds@mycomspan.com
www.thcustomrods.com
541-260-9991