The "original" Orvis Battenkills were rock-solid and at a reasonable price - I still have a few. I've also had good luck with my Ross CLAs. Both of these can be found for around $85 - $120.
I picked up a $50 Okuma last year for one of my smaller rods and have been impressed. It's light, good drag, and seems solid. I'll report back in 10 years.
I can't fathom paying more than $150 for a reel, although I'm sure the higher end models are well engineered and very nice.
EG