I believe that the 'Classic' heritage laker is the same as the regular 'heritage laker,' but it comes pre-stained or polied, and it has a cork donut glued to the outside face of the reel to help store your hook. From the kittery tradingpost website, it looks like it also comes with 100' of 36# backing, a fluoro leader, swivel, hook, etc.
Although the stain and the hook keeper donut are cool, the 17.99 deal is hard to beat!