The reel is a Shimano Stradic 4000, of which I can say nothing but positive things. It is durable, smooth, and easy to maintain. I think prices around here are about $120-130. I also have the Shimano Symetre 4000, which starts at about $90-100, and I cannot tell the difference between the two. I only got the Stradic for my collection because I had a gift certificate, and because I had to keep up with Troutski.
I believe that if you buy one of these reels, you will never need to purchase another one due to wear and tear.
As far as the Steelhead fishing goes, I have managed to sneak back to the river every day since, but I haven't had another hookup. See lots of them jumping though.I have truly been bitten by the bug.