despite the move over the past decade or so to disc drag reels, the hardy lightweight series which includes the models you listed are often held in VERY high esteem among some flyfishers, particularly those who fish bamboo and those who have come full circle from the large/mid arbor disc drag "thing." many would not be caught dead without one. and they are fished regularly.
the earlier ones, made in england and not machined in construction, are every bit as good as machined reels, making up for whatever may be lost in machining tolerances or large arbor needs (often only perceived, as in small stream trout fishing) by a huge level of cachet. all depends on the individual fisher of course. in my world, performance starts with the fisherperson, not reel. and the lightweight series only compliments it. i just lost an orvis CFO III click and pawl reel made by hardy to a house theft and even though i have 2 spare spools left i'm still weeping.... . put me outta my misery!!!! lol
the nice thing about those hardy reels, especially the cast ones, they hold their value when sold as used if it's in good cosmetic shape. and pretty close even if dinged a bit. like burk said, the newer overseas made reels may not hold their used value as well, but i believe the machining holds its own for fihsing needs. do you have one or have a chance to buy one? they can be very light. and that's not a bad thing.
i rarely see hardy reels used in person, but then i often fish alone or with cheap bastards (lol).
eric
fresno, ca.