I was over at Cabelas website today checking out the Okuma line of reels and they have a new reel called the Epixor EB "Bait Feeder". The original target of this reel is anglers who use live baitfish and want to let the baitfish travel around with the line, but it seems like this might be useful for jig fishing as well.

According to the writeups that I've read there is a lever on the back of the reel that makes the line freespool, and there is a rear adjustment (makes the reel look like a rear drag, but in fact it is a front drag) that helps you set the freespooling tension. When the fish takes the bobber and you're ready to set the hook you flip the back lever and it re-engages the front drag for the hookset.

I'm new to jig fishing, but this seems like something that might be useful. Any opinions from seasoned jig anglers would be appreciated.