Richard,
The "gears blowing up" referred only to a very limited production of Cascapedia reproductions. These reels were produced in the last 10 years and were not click and pawl. The Perfects were the model that I quoted prices on and I was referring to reels 50-60 years old and older.
As to "what the big attraction" is, well, it is an acquired taste. To me, they have personality, they hold their value and they are more than equal to the task I ask of them.
I went through the stage where I had to have the latest, greatest and often times most expensive marvels of modern metalurgy. They did the job fine but other than the wow factor, they had little personality and no history. Since I rarely fish salt water, their finish and space age drag was never needed. And once I fished them once, they were worth considerably less than I paid for them. In a few years they were discontinued and replaced with the company's latest and greatest.
My Perfects are like a Timex, they just keep ticking. Sure they are loud, that is also an acquired taste, but give them another 50-80 years of use and they might finally be broken in.

If I choose to sell them, I will get at least what I paid for them. If more likely, I give them to my boys, they will inherit something with history and value.
I still have six or seven of those other reels, you know the ones with a drag. I will eventually sell some of them and maybe even replace them with other "latest and greatest" marvels but year after year, my four Perfects will see the majority of the river time. Why, because they deserve it
'tip