I've become a fan of them, in a big way.
I decided to splurge and bought an Abel reel to use as my knock around, do it all reel. I bought it for a 5wt line, but knew it could have upto an 8wt line on it, so I could really use it everywhere, and that it'd hold up and all.

A week after I got it, a fly shop attempted to spool backing on for me, and gutted the finish completely. I was angry, but they offered to send it back, leaving me without a reel for a new 5wt, and a big hole in my plans.

Enter the Medalist. I got an Asian 1595 for $28, plus a spool for $9 to use while Abel took their 4 week turn around time to refinish the nice reel.

A few things became evident: One, having a $25 reel with a cheap paint finish means you don't care about plopping the rod down anywhere. Smash against a rock? Whatever. Throw in the stream and work on a fish? Sure! Why not? It didn't matter it was dirt cheap, and indestructable.

Wouldn't you know, I got used to this feeling... Despite my thoughts, expensive reels were hindrinces, not tools like I thought, but this ungainly thing? Tool.

Furthermore, it was as simple inside as any click and pawl, you could break it down to every piece in 5 minutes, and have it back together just as quick. Sure, the drag didn't stop a truck, but isn't that what my palm was for, anyways? And, y'know, they say you need a disc drag for this and for that, but guys like Kreh, Wulff and Williams were catching salmon, tarpoon and bonefish with these in the '50s because thats all their was!

It all clicked, and I've resolved to use my 1595 til it falls apart, and then just buy a new one. I'm done with any other reel unless I've got a distinct reason to need it (because, to be honest, the Medalists are seriously heavy beasts).

The nicest thing is not only does it only cost $25, but a spare spool is about $15 anywhere you look, less used or ebay. For LESS than a spare Abel spool, I've got two 1495 frames, four 1595 spools and two 1495 spools all ready to go.

I also get great satisfaction in using a low cost, outdated, and "junk" reel all day long.