There are few detailed equipment reports so hopefully you will find this one useful.
To put things in perspective, I have used a Calcutta 400, an Abu 6500 and an Abu 5500.
Does the Luna cast far? Short answer yes. Long answer; Thickrick and I were fishing on the Squamish. We were using 11 ft rods and 15 lb line. For those who don’t know Rick, he is a body-builder and has 100 lbs more muscle than me. Fishing slowed so I decided to see how far the Luna could cast. It was farther than I thought. Then Rick gave it a try with his Calcutta 251. I played with the magnetic control and some of my casts were farther than Rick’s. Interestingly, I took my thumb off the spool completely during the whole cast and there was no birdnest.
Drag is better than the original Calcutta and the drag adjustment range seems good but I am having a hard time learning the 8lb leader vs. 12 lb settings.. Drag is strong. Operates very smoothly. Construction is solid, equal to the Calcutta. The thumb depress lever is much lighter than the Calcutta (although the Calcutta is a few years older now). The line capacity is 10% higher than the Calcutta 200.
Negatives are: Cost; according to the internet, the Luna is slightly more than the Calcutta 200 but much less than the Calcutta TE. The Luna is heavy. The 203 weighs 1oz more than an Abu 5500 and almost as much as an original Calcutta 400, which is a larger reel. The retrieve is a little slow but probably similar to a Calcutta 200. I had a tough time catching up to a coho which shot from the far side of the river to my side (I lost it) and it is slow picking up the line after a cast. I don’t like how the side plate is screwed on. It came loose on the river and the line got between the spool and body. For those who have one, back off the spool tension completely, screw the side plate on tight, then adjust the spool tension. I check it before each trip.
In conclusion, I am glad I bought a Luna 203 rather than a Calcutta 200.