I am very new to fly fishing and bought the TFO/Cabellas combo last year to fish up on Taneycomo. I know I don't need a new reel but I would like one for christmas you know!

If you were buying a $200.00 reel what would you look at and why.

I will use this for trout and would like for it to potentially be used on a 3 wt also if that is even possible. (3 wt is what I will get next for smaller stream fishing).

Thanks for any help or input you can provide.

Take a look at Redington Behemoth reel, it will do eveything you need and then some. cost around $129.00
We use them on some of our guide equipment.

Orvis has a Hydros SL 3-5 wt reel for $198 . http://www.orvis.com/p/hydros-sl-fly-reels/2fbt
I don't own one, I have a Orvis Access 5-wt reel med. arbor I bought a few months back which was also recently discontinued but I really like it for small stream or pond fishing . The Orvis reel I mentioned above is a large arbor reel making it easier for larger stream and lake fishing . You would have to order line also which is extra . The Access is mounted on a Sage VXP 9' 5wt rod .

I also have a 5-wt Cabelas RLS+ combo that I really like very well . http://www.cabelas.com/catalog/product.jsp?productId=1555116&type=product The RLS+ reel is top notch large arbor reel and is very well made . You can buy a RLS+ reel in 3-4 wt for $124.99
RLS+ Reel .

These two reels are what I have personal experience with but there are many other good reels out there . I'm sure a few members will chime in and suggest others . Just what ever you choose make sure it fits your needs .

I like my new Hydros SL III and IV's. Sometimes you can take advantage of a promotion and get them right at $200.

Sounds like the reel will only be used as a line holder. Spend $60 on a Maxcatch reel from China and the other $140 on a good 3 weight TFO rod.

If you like light weight, look at the 3-tand reels. Awesome reel for the price and lightest one out there that I know of!

Allen Reels out of Southlake. They did have a sale going on....keep watch and it will come around again.

You're also going to have to invest in a line as well, since you're not buying a combo this time. Spending $$$ on a nicer reel then going cheap on the line is a mistake, IMO.

if your fishing for sun fish and bass you really don't need an expensive reel.

Guys...this is awesome information. Pretty much as I thought! The prestige reel I currently have is probably fine!

I do want to get a 3 or 4 wt for smaller fish and water - very new to this. Loaded for whatever in my bass boat...and losing interest fast! Really love the solitude and purity (that may be a little corny) of catching fish on the fly.

If you watch the sale places such as Sierra Trading Post you can often find good deals on reels.

If you currently have a 5 wt, then I'd get a 3 wt before getting a 4 wt. A 3 and 5 will cover a wider range of conditions than a 4 and 5 will. I use a 3 wt a lot and is my got to rod for streams and ponds. From my bass boat, I usually use a 7 wt.

If they are still available just get an extra spool or two for your current reel and get a new rod.

I have hardy Cls5000 got it on sale for about $145
Little bit heavy but come with 3 plastic spools. So far, love it!

I think I saw the Prestige Plus at Cabela's on sale for $24.99 or so . Might check their cyber Monday sale.

Good info

I bought one too the reason why is that they are discontinuing that line that is why you cant find the cassettes anymore

First and foremost. It must meet your needs.

As for small stream/river fishing, wt 3/4, wt5/6 would work well for ur purposes. Reels come into view in a dazzling array. When you buy a reel, you should focus on its material, arbor, drag...

CNC-machined anodized aluminum is solid durable and corrosion resistant. Heavily ventilated spool shed weight yet keep its strength. Mid arbor/large arbor let you pick up line fast. To some degree, it reduces line coil memory. Sealed drag design is a good choice. It is water proof; sand,dirt cant get inside of the drag. So little maintenance is needed except some rinsing.
It depends on you

Put me in the don't waste your money on an expensive five weight reel camp as well. I would put away the $200, save up a bit more and buy a really nice rod, spend it on nice line, or better yet head out with a guide who knows what he's doing.

But, since I fully understand and sympathize with the gear bug, I would look at Taylor Fly Fishing's Array and Enigma. Fully featured with really good prices. I've heard really good things about both, and I think their Revolution may be my Christmas gift for my 8 weight.

Get ya a click and pawl reel to hold your line for the 5 wt. IMO, invest in a good fly line. .... Unless, you are targeting carp... then you might want a a good drag on the reel..

Lamson liquid 1.5, 3 pack. I have one spooled up with a 3wt shooting head, one standard WF3F line for my 3wt BVK, and the last is spooled with a WF5F line on my 5wt CFR rod.

Madison River Fly Company has the Lamaon Litespeed IV for $195
That is a huge steal. Have the reel and love it. Retail over $375

http://www.mrfc.com/waterworks-lamson-litespeed-iv-reel.html

Great info! 3 wt will be the way to go then...have a 5 and an 8 (for bass).

Ended up getting a nice deal on a Lamson lightspeed 1.5 for 209 including tax.