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The oil leakage issue is made out to be much more then it is. It's rare and with a quick rebuild at VS it's gone, no charge if it's within warranty.
It happens, but John R nailed it right on the head. There are gaskets and they can fail but it's not that common. When you think about how hard many VS owners fish and where they fish it's suprising they last like they do. Really the gaskets are a big part of the reason the reel is what it is, simultaneously it's probably it's weakness.
Some leakage is normal. You don't want a river running away from the center shaft, but the reel is supposed to "lose" oil on to the main shaft. It should have a slight gleen from being coated in oil and not too much more. Slow loss where the handle enters the body is normal too. Anything that is literally dripping would be an issue.
The reason VS wants to get reels back yearly is that a fast leaking reel will be running VERY low if it's not out after an average season. A reel that loses very little oil could probably go a very long time. Hard used VS reels that go for a decade before rebuild isn't uncommon.
As for "maintenance" versus a "major repair", it won't be any different. At the factory each reel is completely stripped down, parts are checked, cleaned, replaced if they are outside acceptable tolerances, and then the reel gets put back together. You effectively have a new reel after servicing.
Lastly, to me a "low number" VS when buying used is anything with that stainless shaft. We can debate all day whether the lack of support for old reels based on it is right or wrong but it isn't going to change the fact that the parts for it are either extremely limited or already gone and the upgrade will be expensive. The hit you are going to take on a used reel (with the titanium nitride shaft) will be directly related to how many parts, if any, need to be replaced. If nothing needs to be replaced it will be an inexpensive visit. That to me is the only real risk of buying a used VS with a titanium nitride main shaft.
Uncle Rob, I wouldn't buy a Stella for the surf.
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