In the venerable market, also the Hardy Prince 5/6 with silver finish, and the Sunbeam with it's great too-often overlooked click-pawl and reversible agate guide. These two reels represent Hardy's two widest-ranging click-pawl designs.

I’ll brow a curve ball and suggest a Ross Colorado 2. While less common than the 1 model, it is just as classic looking and indestructible. Don’t know how much they weigh, so do some checking online.

I am in boat looking for reel for same or similar rod but what weight reel would balance well on the 865? I have a budget a little more so it might be easier to start with weight of reel to limit search.

Perfect, thanks. This will make hunt easier.

A two tone Beaudex

This^^

I don't know the weights of either of these rods but I have a 3-1/8 Perfect (5.52 oz) on my 8'6" 5wt McFarland Spruce Creek and a fully pimped 1494 Medalist on my Fenwick FF85-3 which is around 6 oz.

Both outfits balance right at the winding check which to me is perfect.

Look for something around 5.5 to 6.0 oz, if you find that, everything else (capacity, etc.) will be fine.

I think your right that a Featherweight would be too small. An LHR Lightweight or a Princess would do nicely. And they don’t get the 100% markup that Featherweights seem to do.

So my rod will come in around 4 oz, so I guess that puts me at 3 oz.

Oh, my math went the wrong way, sorry, quarantine brain I guess, 6 oz-ish it is.

I have one and it balances perfectly with my SFG 4 weight. For reference, the CO2 weighs in at 4.6 oz according to the owner manual. It’s a classic reel that can be found at a great price and feels indestructible.

These threads always get random as they get longer, with people throwing out their favorites, which may be eons outside the boundaries (price, style, function, taste) set by the OP, or even the forum context.

Some favorite random quotes - disc drags are fascist (allusion to "strike-outs are fascist" - Bull Durham) - reels that look like the wheels that keep spinning after the SUV stops.
We used to have a really cool masthead photo on this forum page

my friend's sweet wife had me hunt down this combo for his Christmas present one year

I have one of the new Hardy Marquis LWT reels, in both 5 and 6 sizes. My 6 loaded with backing and a DT5F SA Trout line, weighs in at 5.8 oz It is the correct size/diameter aesthetically for an 8 1/2 foot rod, in my opinion anyway. You can find them for sale on Harris Sportsmail from time to time, at around the top of your $250 price point. I think it would look great on that rod.

The Hardy Prince 5/6 that Ron mentioned in post #2 should come in right about the same weight I'd imagine. I have a Golden Prince 7/8 and loaded with backing and a Rio Gold WF6F weighs 6.5 oz. - it will go on a ********* 866 brown one of these days.