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Uh---you have a 20 year old Penn reel that's served you without any problems for 10 years. So---why not a new Penn of the same model?
Bells and whistles are nice, but reels that have a gazillion bearings, smooth aluminum gears and all the other toys break more often than those older Penns.
I have 4 Penn 704s and 2 Penn 706s and I've never lost a minute's fishing due to problems with any of them. Once you get rid of the bails on the 704s and get used to using the manual pick-up, they're pretty bulletproof.
Anything else that you buy in the $60-$80 price range won't last you a full season.
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