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Everyone that ever spin fished owns or has owned a a Penn 704.
If you change the bail springs, the drag washers and keep it oiled, they last forever and spare parts are always available at Penn dealers. I still have mine and use it. Its more than 30 years old. I can change the bail springs myself and have it serviced every year. I think you can get a kit to change it from auto-bail to manual bail pick up. The old "coffee grinder" still works as good as the day I got it. When casting, make sure the bail is positioned properly and the bail wont close during a cast.
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Threaded Mode