Thanks for the info & chat Guys! So the general opinion is that if I can find a Shimano reel, the Ultegra 14000 XSD is the one to go for.
I've had another go at the shockleader on the Dragon reel, and done the half hitch/uni knot jobbie, and it does look slightly more compact than the double uni knot I did before.
I've also had another play with the bail arm roller, and put a thin washer behind it which has given me a fraction more clearance. The actual roller slips over a brass bush (no bearings) and the brass bush is slightly shorter than the depth of the roller, so as soon as you tighten down the retaining screw, it locks the roller up. Very poor design, but hindsight is wonderful! Plenty of silicone grease was applied. It was £60's worth of reel on special offer, so not that cheap.
Any comments on my question about the Penn Surfblaster I versus the Surfbalster II? Is there any major pitfalls or differences between the two? The Surfblaster I's I saw earlier both have spare spools so I guess that is a bonus if there isn't a spare spool with the new II's. As I mentioned, briefly thought about a new Surfblaster II but nobody seems to have stock.