Of all the things I stress about, this is at the bottom of the list. Some people do swear by the Megaloop. Personally, I've used a bunch of different reels, many will work. Really, the #1 thing, you need a reel that is going to hold a giant line. That's not entirely trivial. Uncut comp lines are around 80' and 1200gr. Sure you cut them down, but you start oversized and work down. The LS4 will hold a line of that size. It will work. Though, just eyeballing the one I have, likely with not a lot of room to spare.
Line jump. Is really annoying. But, surely, you are not planning on mucking around a lot with your running line in the middle of a comp, right ? OTOH, if you are at all serious about this, 99.5% of your casting will be practice, so running line problems are more an annoyance and it is a question of your personality how much.