I have not researched your request yet, but, I will. My only concern is that there are several qood quality reels out there that are within you cost range, but, do not fit your weight range of less than 4 ounces. There are reels out there that weigh 4oz or less, but, they will not handle the 4-6 weight line range you want.
I am not an expert on this, but, that is my first concern and I am sure there are others out there that can provide you with better input on your request. I will continue my search for you and will provide any info I find that meets your requirements unless someone chimes in and provides the info you request.
After doing a quick search on many reel brands offered, I only found one reel that meets your weight requirement but it is a click pawl and not disc drag and that is the Redington Drift reels. All other reels that have the disc drag weigh more than 4oz. I hope someone knows of a reel that meets your requirements.
Last edited by WarrenP; 12-10-2011 at 02:17 PM.
Fly fishing and fly tying are two things that I do, and when I am doing them, they are the only 2 things I think about. They clear my mind.