Curious if it would work fine for flipping and punching and other heavier cover applications up to 2oz?

I have a couple, but mine are 6.3 gear reels that I use for small cranks.  I think the gears would hold up if you wanted to use it for heavier applications, but it wouldn't be what I'd choose.  

I would get a Steez A or one of the new Steez A 2's for the techniques you listed. 

Thanks. What would ne the Steez SV max weight?

It doesn't have a max weight. It's a magnesium framed reel with an SV spool, designed for more finesse applications. It can be used for anything but it's not considered a heavy duty reel. The Steez A has an aluminum frame and holds more line and is generally more robust.

Can you give me an idea of the max weight for lure for the Steez SV?

I have used mine up to 1 ounce but nothing heavier. The frame has a little flex to it and I think anything heavier would be trouble. To me, it shines at the 3/16 to 1/2 oz mark, which probably is where I am with 75% of my fishing. 

 

Like mentioned above, the Steez A or the new A II would be the ticket. 

The reel will "cast" those weights but it isn't intended to. I've used mine for pitching jigs and it was fine but you can feel it flex a little if a fish is buried. It excels at crankbaits, jerkbaits, weightless senkos, open water football jigs, keitechs. I use mine for jerkbaits. has no issue throwing 3/4 oz. the issue come with the resistance of what's at the end of the line. 

Seems like the new Zillion HD would be ideal for this