The Daiwa's are great reels. I have a PS2-5B that I bought a few years back (5 or 6) and that reel is as smooth as any. At the time it had more ball bearing than any other reel on the market and that is why I bought that reel. (my logic was the more ball bearings the smoother the reel) I personally do not have a newer shimano, but my brother bought a calcutta a couple years ago and i have used that to compare. It is just as smooth and unlike a shimano it casts well if you get a little low on line. The Daiwa is sleeker and fits in the hand better. More like the older shimano's (200 and 250) I like it as much as my shimano bantam mag 250.
I am considering a new reel myself and the newer daiwa TDX models are looking pretty good. check them out, they have more ball bearings than any reel except the shimano calias but are $140 and $190 the calias is over $300. They have a new technology that totally disengages the spool when you cast and have long cast spool design. They hold plenty of line and they newer ones have a sleeker desing also. I know shimano used to be the holy grail of reels, but that may not be the case anymore, the new daiwa's might be better.
just my experience. I also have used a black max (the 1600 model) and those things with the criss cross design really cast well also, and since I am lefthanded the handle is on the correct side for me.