I'm looking at two different reels. The first one is a Shimano Exsence DC and the other is the Metanium DC. The Exsence is a 2013 model and the Metanium 2015. What makes the Metanium worht over 120.00 more? Both have DC and the same amount of bearings. Is there anything else? I think the Metanium holds a little more line. 

The Met is simply a more refined reel.  The Exsence is no slouch but think of it as a really nice BMW, whereas the Metanium would be more of a Bentley.  

It boils down to weight and frame material. The E-DC is a heavier reel. With that said I have 2 and I think they are one of best performing and most fun reels to use for under $300. I bought both of mine for $250 new from Digitaka before they were all sold out.