The Quantum Iron that Muddler mention is truely the best reel on the market for under $200. The pauls and wormgears last twice as long as any abu or shimano. I've even seen a guy that drove over it with his ATV and then his TRUCK (don't ask how). The reel was flattened to a low profile style reel but it still worked. He used it for a week came back into the shop and claimed he had landed a 20lb spring on it. He then bought a second Iron and said "this one is goin' on display".
They do however have one fault.....only right hand retrieve.