I have a Revo Winch(5:8.1) reel I don't use to often. Is that ratio of a reel to low for square bills and lipless crack baits? Basically trying to figure out if the ratio of the reel is to slow for shallow water. If so what ratio would you recommend?

The mechanical advantage of the Winchs ratio isn't as apparent when cranking shallow but it casts well and work fine. 

I agree with DVT. It should work fine for those purposes 

what would you use this reel for? this was given to me as a gift.

Any moving bait that doesn't need to be burned. It'll work as a jig reel too, just not my first choice for when fish bite and run at the boat.