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