I inherited my father's old PENN Squidder reel. Must be 60-70 years old. Don't use it much since I prefer to use my PENN 525 Mag. So why not try to add a mag drag to the Squidder?
I bought some round donut rare earth magnets with a 1/4 in hole in the middle. Very strong. I then drilled a 13/64ths in. hole in the plastic side plate. I used a 1/4 x 20 tap to thread the inside of the hole. I then screwed a 1/4 x 20 screw into the hole from the outside. I used a nylon screw. I then super-glued the magnet to the tip of the screw. One of the clicker arms needed to be moved so as to allow the magnet to move towards and away from the side of the aluminum spool.
Once the reel was re-assembled, by turning the screw clockwise, the magnet gets closer to the aluminum spool exerting a greater magnetic drag force. If the screw is turned counter-clockwise, the magnet retracts away from the spool exerting less drag force. When fully retracted, there is no observable drag effect. When moved close to the spool, the drag force is very noticeable. Too close the magnet hits the side of the spool stopping it completely.
Still experimenting with adjusting the drag with different weight lures and more than one magnet. Still need to use your thumb to stop the spool when the lure hits the water.
I took several pictures but they are too large to upload. Email me at: firstname.lastname@example.org
if you want me to send the pic's.