Thumper's on the right track here- an old 704z (706's tend to be a little pricier) is the best way to go.
Reliable, holds a ton of line, easy to service, strong gears, can be packed with grease... the reel has it all. Spool it with 20 lb fireline and get fishin'. Look for one at a yard sale that's in good shape, should cost you less than half the cost of a new shimano/quantum. Barring that put up a WTB, I'm sure someone has one laying around they're willing to get rid of.
That being said, I did just pick up a Saragosa 4000 I'm very happy with... Upgraded the drag to smoOoths and it's handled some mid-twenty pound fish with no problems. I like how the guts of it are very simple- the reel is a breeze to take apart and put back together.
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