I often fish a Calcutta 400 - one of the pricier conventionals but not in the same league pricewise as a TE or a VS for spinning.
IF I could afford one I would probably get a VS for serious spinning. UNtil then, probably sometime around 2019, I'll be sticking with my sub $200 reels and for spinning, I might trick out a few 706 Penns (I have some ideas in mind

).
BUT we all have our spending "things". We all probably spend more on fishing stuff than we really need and we all complain we still don't have enough. I do know some sharpies that were fishing VS since they first camw out and they swore by them then and they swear by them now. And
status has nothing to do with it. Being able to get consistently dunked and banged around with lots of drag screamers in between is why they like them.
Anyone want to get into the 706Z
X Reconditioning Biz

??
Oh yeh, Hey Flap - I guess most people don't use conventionals up your way (at least levelwind ones) because getting sand in the worm, etc. You can also fish lighter lines and use smaller reels. The sharpies getting away with 5500SS reals and the like up there could be undergunned down in RI/Block/LI. Structure (read obstacles) is different and IMO requires an upgrade in gear. Tuned up 6500 Abus is really the bottom on conventional gear and it goes up with the occasional squidder, Abu 7000s, Calcuttas, 965/975 and on the spinners, 704/6, 6500SS is usually the baseline.