Just some anecdotes...
My father purchased a Penn 49 about 45 years ago, which eventually made it to my fishing bag. I still use it today and it is in immaculate condition. Had to replace a few missing screws last year...fater every outing I wash down with fresh water, and then liberally spray WD40 all over it. The 50lb mono on it was put on in 2011 just before I moved to Colombia...still perfect.
In Nov 2019 I purchased another Penn 49 which I found in a pawn shop in Dana Bay. This reel also in perfect condition. I paid R400 for it...
I use my Penn 49's for offshore fishing, never needed anything more...
Biggest fish so far is a Sailfish of about 200cm (30kg)...
Cheers.