In the Q&A section of LL Bean's Pocket Water Reel page, they answered a question about the reel specs:
With the WF5F line, the reel holds 50 yards of 20 pound backing. The Pocket Water Reel weighs 3.85 ounces and has a diameter of 2 7/8 iches.
I don't have one myself, but on the Bean website the reel has an average rating of 4.9/5 after 7 customer reviews, so others seem to like it. The only negative comment was from one customer who said, "The click is a bit loud and took a little getting used to but I'm fine with it now."
Product website: Pocket Water Fly Reel: L.L. Bean Reels | Free Shipping at L.L.Bean
For what it's worth, to my eye the Pocket Water looks a lot more elegant and refined than the Cortland Retro. If the Hardy Lightweight is the aesthetic ideal for this style of reel (and I think it is), the Pocket Water hits the mark while the clumsy proportions of the porting on the Retro miss it.