I wouldn't buy a second hand reel for any real money unless I was absolutely sure about the history of its usage and maintenance and knew the seller like my brother. In fact the seller would have to <u>be</u> my brother. And I don't have a brother....
PS. For that money then I think from what I've read that the Fox Stratos has now weathered the early 'Shimano-ista' storm of protest, albeit not without some minor criticisms. But on a price and bang for buck basis they've got to be the one in that bracket, despite my personal declared affection for Okumas and Mitchell Quartzes.
Mind you, not all unalloyed joy, see
http://www.fishingmagic.com/forum/forummessages/mps/dt/1/UTN/26897/last/1/V/8/SP/
seems pretty level headed and fair.
The one thing I haven't read anywhere that I have been keeping a gentle eye out for is any report of a Stratos suffering mechanical or stress failure of any major gearing components. The heart of any reel, and it seems they got it right. Now, just got to wait for the '30' size float fishing version or equivalent to come out and Bob's your unfeasibly close relative, I'll have one !