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Just picked up a couple Silstar TFG-20's...small frame reel, 3bb, holds 100yds 4lb test...best part, very solid instant anti reverse...and a good smooth drag, I see them going for as cheap as $15!
I've been fishing hardwater for 30+ years and when I started most fish were brought in by pulling the line hand over hand. It's my belief that the reel used for icefishing is no more the a line holder. Sure, everybody wants the best reel they can afford, but this is one place you can skimp. Unless you are reeling in fish that are huge runners, a smooth drag is wasted money. If you are spending more then 30 bucks on a reel for ice fishing then the manufacturer caught you. I know we live in a "keep up with the Jones'" time, so you'll want to impress your peers. I've been there. I'm past it, and have learned. I'm sure BPS isn't paying the big bucks, so the money you save could be an extra trip to the pond or two.