Lots of good opinions here, and remember, it is all opinion.  There is no absolute answer.

I find Shimano Stradics to be quite good when new, but having worked on a few, find them a little cheap feeling and not quite up to their price.

My favorite reel right now, and I admit my opinion changes as I try other stuff, is the Daiwa/Cabelas Capricorn/ ??     series of reels.   Silky smooth, good drags, great bail closing efforts, comes in a variety of sizes.  Metal housings, never fails.

I think you get what you pay for, for the most part.  But do we need a reel that will take a tarpon run of 150 yards if we are fishing for largemouth bass that can take at most about 10 yards?  Don't get enamored with the $400 reels.  You don't need them.

Better to buy a $100 reel instead of $400, and buy a $200 rod.  Or build the rod yourself for $100.

With all technology, there is a diminishing return curve of performance vs cost.  With reels, after about $100, you don't get much for your money, with rods, after about $150, same story.  Don't get sucked in.

                    recently was surfing E-Bay and saw a no-name reel that the seller was asking $15 for. I bought the thing. I was manufactured by an outfit named Ningbo. It's a nice looking reel, and I fished with it this weekend for an hour or two, and it is as good as any spinning reel I've ever used. It may not last a season, but when it breaks I'll throw it away and look for another just like it. For $15 I can buy two a year for many years before spending what one Shimano costs. If you open up a spinning reel and look at the guts you will find it is not a Swiss watch, or anything close. Building a quality spinning reel isn't rocket science, and there really aren't any deep secrets involved. There may be reasons to spend $50, $75, maybe even $100 for a spinning reel (I can't think of one though)--but anything over that is simply insane.                                      

 You throw your 15 dollor reel for a hour or two and then try it all day long with a good quality reel and you will see the difference.  It might be insane to pay more than $100 for a quality reel but I personal think you get what you pay for.

I look at it as a kind of an experiment. I'm definitely not recommending this particular reel at this time (at least at any price above $15). I've fished it on a couple of occasions since I bought it with satisfactory results. I will say that the drag is somewhat suspect, and the spare spool was made out of cheap plastic. I haven't bothered to even put line on it. Perhaps after this season is over I'll resuscitate this thread with a thorough review of the reel. Perhaps I've discovered a promising new manufacture of reasonably priced reels. Perhaps they are garbage that won't last a season. Time will tell.