For a smoooth drag, I love my big Avet. But it is too heavy for regular salmon use on salmon sized rods ( I got it for halibut, tuna and oversize sturgeon, but often take it for salmon -- just because it is fun to use). Right now I'm looking at getting either another Avet two sizes smaller (MJX 5.8::1 $185) see
http://www.avetreels.com/reels/avet_mxj_4.html or going with the Shimano Tekota with line counter ($165). The biggest Calcutta 400 is nice (nearly twice as much money) yet I rarely fish salt water for salmon. The Avets are NOT levelwinds -- and there is something refreshing about this simplicity (like a Ruger Single Action revolver - which I have two of) but, as a friend said, "But what about all of those people who you take out fishing? How will they adjust to working that line back and forth by hand and the lever drag?" At first I said, "They'll use the Penns" but realistically, they'll use whatever I hand them, which could be my "nice rod". Star drags are harder to accidently mess up for the novice. At a glance though, I can see if my lever drag is set appropriately.
I'm leaning towards getting the Tekota with line counter ( a feature which would be nice in replicating lure placement while backbouncing the deep water while anchored in the river).
Service on Penns is EASY. They are still American made and I just had two of mine serviced in Seattle at the factory authorized repair center for a reasonable price (slightly under the price of a new Penn). A quick search on the Penn website provided the address. Ollie Damon's in Portland, OR also works on these as well as every other kind of reel.
I have some older Shimanos from the 1970s. One (model # 500) is "done//retired" and the other (#100) works great (caught a 36 lb. chinook three years ago after 2.5 hours on light rod and 15 lb. line). There are no parts for either, anywhere in the country and honestly, the drag on the big one is rather "screechy" (all or none) and unpredictable.
The newer reels' drags are SO much better than the old style. If an Avet reel drag's smoothness and predictability (different from reliability) is a "10" I'd put Shimanos at an "8.7" and Penns around "4". That doesn't mean they don't work well... it is like anything else -- a Ford F150 will do most of the jobs most people need a truck to do most of the time, but it isn't a diesel Dodge Duelly. Is the price difference justifiable to you? Because I use and maintain about 6-8 salmon rods - I have a few Penns and some cheaper rods (like North X Northwest 8.5 ft. or my Rapala or Shakespeare Ugly Stik -great economical rods). But if I fished by myself primarily and weren't taking out 2-4 people most every salmon trip, I'd have nothing but a G. Loomis rod and a Shimano Calcutta reel.
The line, hooks and swivels? Now that IS important and not something to compromise on, ever.
Most any gear can handle a 6 lb. coho/silver. And if you lose one... there'll be another along soon. That is not the point. You have to ask yourself "If and when a 40 - 60 lb. Chinook hits your lure or bait.... what do you want to have in your hands to fight that fish of a lifetime with?" or "How many monster fish must you lose before you start using the right gear?"
The big fish are out there. Be ready for them.
C.W.