Although not mechanically un-inclined, I don't dare pull that thing apart, especially since it's still under it's 1 year warranty.
DadFisherman: Definitely not a spool issue and the only 'abuse' it has taken is frequent dunkings.
Spoke with a local reel guy. He says he's fairly certain there is a bearing issue...

He said he could hear and 'feel' it as well when cranking. Looks like I'm taking a trip to Old Saybrook when things slow down at... well you should know where.
Thanks all once again.
