I like my Billy Pate for Salmon - anti reverse sometimes comes in handy when you are chasing fish downstream over rocks and stuff. But that's out of your price range. I use it with a 10 foot Orvis 8 weight or a 9 wt.

I have a Sage 1800 series I use on salt with an FLi rod. It's okay and in your price range - not terribly elegant but I haven't had a fish complain. I'd also look at the Cabelas XSS. Looks like a nice reel for the money but I haven't used one. I have also caught a ton (not literally) of steelhead on Ross reels (older Cimmeron and Evolution).

As long as they have a solid reel seat and a decent rim to palm on, almost anything will work. You usually set the drag so that a sudden lunge or jump (sometimes they do) by the fish won't break you off. Any extra drag you need - plan on using the rim and the palm of your hand. Most salmon get to the reel sooner or later. Sometimes well into the backing if they are headed downstream with viggor and you can't keep up.

Godspeed,

Bob