I'm looking at getting a reel for throwing swimbaits 3 oz and under.  I believe I've narrowed it down to these 2 reels unless someone has better suggestions.  I'm wanting to know what he difference is in these 2 reels?  From the specs I can't really tell a difference.

id recommend looking at the shimano cardiff.  its less money and i think it will handle those waits better.  Its a round baitcasting reel.

The E is an updated version of the D, though both are very similar.  They are designed for tossing bigger baits and have plenty of capacity for heavier lines.  While a Cardiff is an excellent choice, the Curado is probably a nicer choice, especially if you are not used to round reels.

Thanks for the information.  I want to get a round reel one of these days but would like a pluton or calcutta.  For now though it doesn't fit my budget. 

honestly alot of my buddies that use round baitcasting reels have not said that great of things about the calcutta.  alot of them prefer a diawa luna over the calcutta.

Per Bantam (the Shimano rep that used to post here), the difference between the 300DSV and the updated 300E are:

We added one bearing, new Titanium line guide insert and changed the pinion support bearing to a S-ARB bearing now. Other than this they are the same.

U can update a 300DSV to the 300E spes, U need to order a bearing part # BNT0031 and the line guide part # BNT3992 from SHIMANO from the 300E.

I like the 300DSV Gray over the 300E Green.

honestly alot of my buddies that use round baitcasting reels have not said that great of things about the calcutta. alot of them prefer a diawa luna over the calcutta.

That probably boils down to a preference for Daiwa's Magforce brakes than any quality issue.  Otherwise, they are very similar.  I've used both, and own a Calcutta 200B for swimbaits in the 1-4 oz. size.

it could be, i have never used a calcutta but my dad does owna  luna and i must say it is very smooth.  I use his luna for pier fishing alot of times.