I’ve got to agree about the # of bearings not being the most important factor. I was at Gander last year and the guy was trying to sell me on a seven-bearing GM guide series. He couldn’t believe that I didn’t like it – it was smooth, but felt really sluggish to me. I suppose that there’s a lot of inertial mass in those seven bearings that other reels just don’t have.
I have a sedona and like it just fine. I also bought a quantum five-bearing model (I think it’s an ST4000) at bass pro in Chicago a couple years back for $20 that I think is every bit as good. The one complaint I have is that it has a bail trigger, which means that the anti-reverse only has one stop – for this reason, I would probably say the sedona is better even though it’s not as smooth.
One thing of interest: I absolutely refuse to buy rear drag reels now. I fished one for years and can’t tell you how many fish I lost because I couldn’t resist the urge to tighten it when a big fish would run. A little bit of self-discipline would have also solved the problem, but that’s easier said than done when the drag is screaming and your rod is doubled in half.