I hear that round reels are better than low profile for heavy swimbaits.

Is it necessary?

Will the LP ones wear out faster due to the size of the spool?

The biggest issue is line capacity...not too many low-profile reels that can hold 100+ yards of 20-30 lb. test.

The low-profile swimbait reel is the Curado 300.

For the round reels, I would look at the Shimano Cardiff/Calcutta or Daiwa Luna.

There was an article in the last Bassmaster magazine where the writer stated that a low profile reel could not handle the strain of swimbaits. Obviously he had never used a Curado 300... He did plug our Calcutta TE which was nice

There are many low profile reels that will handle swimbait fishing. Typically the line capacity is the only thing that will hinder it as being a swimbait reel. Shimano reels for example have oversized gears and drags so they will handle swimbaits without really wearing out. I personally have used my Curado 300's to catch species such as Yellowfin Tuna, Dorado, White Sea Bass and Yellowtail here on the west coast. I have fished 80 pound braid with buckled drags for these species and the reels have not broken or worn out yet.

Round reels are better suited for swimbaits because of the line capacity, they can hold more line of higher test than a comparable low profile of the same size.

But you now have deep spool/high capacity LPs like the Curado 300.

can u really cast a swimbait 100 yards?  Its not like a big bass to spool you like a striper or tuna

Most guys are using 25# line or better.  How much of that you gonna fit on your Revo or Sol  

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Bantam1, I'm a Daiwa guy, but I have my eye on a 301 for both swimbaits and some of those monster trout I sent you.  A lot of guys on the rivers swear by them, many switching over from Calcutta Bs.

can u really cast a swimbait 100 yards? Its not like a big bass to spool you like a striper or tuna

Using IPT, the longest cast I have tried to measure was 284 ft.