I just bought a 1594RC for about $50 and so far I love it. The drag is very smooth. When I peel out line for casting it comes off easily but without overshooting and creating a bird's nest of fly line on the reel.
I noticed on my old cheap reel that if I reeled in fly line that was hanging loose off the reel I'd get a lot of open loose loops that would then tangle. With the Medalist I don't have that problem.
I'm very happy with mine. And at only $50 or less depending on the model you can't beat the price.
I should say, that I'm very much a newbie fly fisherman and there are probably features and "feel" to the better reels that I don't know about or understand. But for me, this reel works out just fine.