DRAGSWhile both Reels have good sized Drags the Penn has slightly Larger sized Disks.
The one I referenced above is an Early Model Penn and has SIX Fiber Disks and are housed in the Main Gear where the Ocean City has only THREE fiber Discs which are much Thicker and are Asbestos and housed in a separate Removable from the outside Stainless Cylinder if you will that has 2 large pins that engage in the Main Gear
. Kinda Cool !!!The Metal Discs on the Penn are also much Thinner than Ocean City's Heavy Stainless Convex Washers.
Some people swear by Greasing the Drags in Reels and also Slop a Gob of Grease all around the Internals which to me is just STOOPID as being in the Garage Business for over 50 years I have yet to see Grease used in Brakes or Clutches ,
I Find when oil from the Rear axel seals, Brake Fluid ,Rear Main Seals etc gets on the linings or pads you got problems . You Want Friction not Slip plus on Cars and Trucks braking at most any Sped will just Glaze them over and can actually catch Fire .
( Myth Busters did a thing on trying to Catch a Reel on Fire by Spinning the Drags but didn't happen ) Plus most Fish are not gonna weigh 3 thousand pounds or more and pull at 60 miles an hour under the loads Cars and Trucks do . With exception to Some Early Reels that use Leather and paper Drag Discs and Even Metal I say ya Don't need Grease or Oil on them.
You say well my Automatic Transmission has oil in it . OK.... whole diff ball of Wax.
Transmissions operate under High Pressures locking the Clutch Discs inside the Drums and when they start Slipping well you know .
In Fishing Reels whether you Grease the Drags or Not all of them when used heavily will eventually Glaze over thus reducing the effectiveness of them BUT you can Service them at regular intervals and just lightly sand off the Glaze and Reuse most of them several times .
Slathering Gobs of Grease all over the guts just allows the Collection of More Dirt and Grime .
Rather a good coating of Oil will do just Fine .
Just look at the Reels you Tear Down that have Gobs of Grease in them and first off the Main Reason you are tearing most of them down is that they wont work right because all the Gobs of Grease has Hardened and stuff won't move right anymore.
It's your Reel so Do what you want !