Kent,
I bought an Okuma Helios (7/8 model) last September (2005), and it was my first reel purchase since 2000.
Having taken myself out of the reel market since buying that Orvis CFO six years ago (and spending a bunch of money on it), I have to admit feeling a bit gun shy when I picked up an Okuma and Pflueger for the first time.
These weren't names that I initially associated with performance and quality.
Things sure have changed a lot in the industry.
I settled on the Helios from among the pool of Okuma, Pflueger and Scientific Anglers. Admittedly, the decision was solely based on aesthetics. It's a sweet looking reel. In my mind it was dirt cheap ($129 for a bar stock, large arbor reel? Are you kidding me?), and it has performed extremely well for me.
Since moving from Montana to 8 and 9 wt. country, the Helios has become my go-to reel.
I have a couple of gripes, but nothing major:
1. There seems to be a lack of fine tuning the drag in the area of "no drag" to "just a little." I realize this is sort of a subjective opinion. Sometimes there's a certain resistance I'm looking for, and the Helios' screw-in type drag system is either slightly too loose or just a tad too tight. I notice this more on smaller trout than salmon or steelhead. I usually use more drag on the bigger fish and it's not a problem.
2. I miss the audible reel click when the reel sends out line. When a big fish makes a run, my Helios is almost silent. Not that I'm trying to attract attention that I have a fish on, but compared to the scream of my CFO, the Helios is a bit of a let-down in that department. Again, this is only a small gripe.
The only sound the reel has made has been a squeaky door noise when I really had the drag engaged heavily on some bigger chinook last fall. Maybe it was a new reel thing, because I didn't notice it this season.
Hope this information helps.
--Seth