I packed my spheros 8000. I am not sure how well it worked, because my speros is no longer in very good working condition after getting wet many times. I will admit, I barely ever cleaned or serviced it, but packing with grease or vaseline made it very difficult to service on a regular basis like the 704/06 due to alot of parts in the reel.
Yes it can be done, yes it will probably help the reel's longevity if its getting wet alot, but be careful to clean it often anyways.
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