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Whoever coined and put into widespread use the marketing term "entry-level" for leisure products really earned a paycheck. It purports to direct attention to affordable items for dabbling, but its more powerful subliminal purpose is to direct people away from them. Thus, dilletantes who don't want to be viewed as neophytes avoid these products and instead buy the more expensive stuff, which is often no better in any significant way except for the perceived status it conveys. But you can tell somebody who's been worked over at the fly shop because they have started with the "step up" equipment, let's say a $50 to $100 reel instead of one for less. The Pflueger, an enduring, proven, durable design, predates and defies this marketing redirect and is still among the best values in fly reels as pointed out above. Pfueger managed the same with its machined Supreme reels and its Summit large arbor. Chinese-made or lightly used USA-made, four or five Pfluegers for a total of $100-$125 would give many fly anglers, beginners or not, far more fit fly tackle than one nondescript, come-and-go reel in the $60-100 range.

I like the mention of the Daiwa Lochmoor, also. They are cast, bucking the machined trend, and I wonder if they didn't sell well, since they seem to be cheaper these days than a few years ago. Never seen one first-hand to check out but I thought I recognized the well done click drag of previous Daiwas. I've had a large arbor click drag Lochmoor on my watch list quite a while but haven't pulled the trigger; it intrigues me partly because most LA reels have a so-so disc drag and I like adjustable clicks better. Here's one in conventional spool:

http://cgi.ebay.com/DAIWA-LOCHMOR-FLY-REEL-LOCHMOOR-S-300-NEW-FOR-7-8-9-WT_W0QQitemZ310075345483QQcmdZViewItemQQptZLH_DefaultDomain_0

Yes, a good candidate reel. I'd look at this way. It IS a $50 reel, but it sells for more than that because it says "Orvis" on it. Comparable models with a different badge or the maker's name are more likely to be available in the stated price range. I think they would have to be the BFR made reels, though. The better ones from JW Young are probably still out of the stated price bracket.