in all honesty i havent fished a calcutta or the Penn reels ( i too have been eyeing a penn 965 ) i know the penn 965 are triple anodized, which means it can go from fresh water to salt water and back again without having to take it apart and re-grease it all and clean it after the salt water like you have to with other reels
now the Calcutta is a really nice reel (too much for it i think) i have talked to guys that have had them and they said they returned it cause they didnt like it because the spool spins so well that all it does is ratnets on you if your not really good at keeping that thumb there and you have to be quick really quick to put it down. have you ever played with one in the store? give the spool and good hard spin with your finger it'll keep going for close to a minute it's crazy :shock:
me personally i like my Shimano Catala it is a good rugged yet sensitive reel spins good never had a problem with it. it also has 6 small breaks inside you can set to your fishing conditions and if you set them right you dont even have to screw around with using your thumb at all
and it also casts smooth and free spools real nice and man can it cast far for them sockeye :shock: first time i took it for socks i took all the breaks off so i could get a really far cast and i casted out half the spool of line (not kidding) that was cool and al but it sucked to reel in :lol: so i quickly put two breaks on and i have never changed it since
i think when it comes to reels pay a little more than most people that just buy Abu reels i mean Abu's are good reels but they do wear quickly i have found i like using my Abu(first reel bought) for sockeye fishing only because i dont like getting sand in my better reel
my next expensive reel i think will be a Penn Int 965 just wish there was a way you could try them out for a few hours to see how they fish. ya know?
hope this helps