Picked up this reel used on Ebay a couple of years ago. Never used it myself as it was missing the tension control knob. I just tried another knob off a parts reel I have and it seems to fit(Wont know for sure until I spool it up and do some test casts)

With this reel having a 5:1 ratio, how would this reel handle crankbaits/spinnerbaits?

It's a great, solid built reel.  I have one that I still use some for trolling for walleye.  I fished it heavily for about 2-3 years until the drag started to slip some, it was acquired third hand and had been fished hard before I got it.  Never really ventured into getting fixed though, kinda wish I had, I've used it for some parts for other reels.  As for using it for spinnerbaits, it may be a little slow but shouldn't be a hindrance. 

Took it out today and WOW this thing is like butter,when it functions properly.When I could get it to cast without it schreeching and losing distance ,it was great,and the retrieve on the small crank I was using was effortless. Ive taken it apart and lubed the bearings,hopefully that will take care of the high pitched screeching noise when I cast.Gonna go to a pond tomorrow to see if I can fine tune it.

I have three of those reels. One is the 5.1 and the other two are 6.1 ratio. The drag slips on one of the 6.1 so I don't use it anymore. I have a couple dozen other baitcasters so it's no big deal. I still use the 5.1 for small crankbaits and the other 6.1 for Tx rigging.

One drop of a good quality reel oil on each spool bearing will make it cast very well.

So I took the reel apart last night and used a q-tip to apply a little WD-40 to the bearings,as its the only lube I could find at the time. I took the reel to the pond and tested it out,it worked great It still had an annoying high pitched squealing,but I figured that was the spool shaft making contact with the inside of the tension control knob.

Got home,took it apart again and got some actual oil,lubed the bearing inside the palming plate and put a little inside the tension control knob.

Tied on some metal washers I had laying around and gave it a few casts. No noise and just as smooth as can be. This has got to be the smoothest BC reel I have ever used.The round profile is great as well.

So who actually manufactures this reel for BPS?

Man its funny you posted this, a friend gave me one of the 6.1's yesterday for helping him move. I have to say, casting in the yard I was suprised! Casting was smooth and the retrieve feels great. Other than the BPS logo on the frame it reminds me of a calcutta  8-).

I've gotta a Johnny morris reel that Im going to try to rob the handle/drag star off tonight and see if they'll fit.  The drag seems a little soft (which was a problem with BPS reels of that era), so I may look at doing a carbontex upgrade this winter.

Let us know how you like it going forward