Fly reel

I am new to fly fishing and have caught a few steelhead on my 5wt rod. I would like to set up a 10' 7wt rod for steelhead. I would appreciate any suggestions as to what reel for these strong fast running fish.

Ditto on the Lamson reel. I've been using a Lamson Radius 2.0 for the past 12 or so years and I'm very satisfied with it. The Radius 2.0 is not available anymore but the Lamson Guru is the closest to it. It's about $200.00 retail but this is the time of year to watch for sales. Check out www.mrfc.com , I think they have the Lamson Guru HD (in 6 weight ) on sale for about $160.00 . I've never fished for steelhead but I've handle some big trout (24" plus) on the Yough and the Lamson drag system is very nice. It may sound pricey, but I'll guarantee you'll only have it for a lifetime. Hope this helps and I wish you and everyone on the board a happy and healthy new year. Let us know how it works out.
P.S.
       Look under MRFCs' clearance section of their site. Good Luck, Matt.

Cast aluminum is basically making a mold and pouring liquid aluminum into the mold.  Machined is taking a block of aluminum and cutting away from it to produce the reel.  Machined is more durable in the long run.
 
If you're fishing in the bitter cold, then don't discount a sealed drag.  Not only will it help from getting sand and silt in your drag system but it will also prevent your reel from freezing up in below freezing days on the stream.  That typically will cost you more for a reel, but on days when my friends are dunking their frozen reels in the water to free them up for a few minutes or busting off fish because their drag is frozen solid, it's money well spent when my reel is still working fine.

I don't even have a combo that would hit 500 bucks even if you count the line, for erie steelhead, especially PA I think paying that much is a little overkill, unless you have the money to pay for it, then feel free, but I have seen everything from cheap cabelas reels to more expensive things that I wouldn't imagine buying, with that said I have an Allen reel for my 7wt, little on the heavy side but it balances with my rod, so I am good. Just look at what is in your price range and find the best deal you can.

You can't go wrong with Lamson for an even price to quality ratio. My Konic is my go to 7/8 wt Steelhead and light Saltwater reel.

Cabela's has incredibly affordable options like the Wind River reel. Unbeatable price when it's on sale, and they actually use Lamson technology for this particular reel. However, it's not as durable as the Lamson products themselves.

I also use Okuma SLVs. Another great reel for the price. It's biggest down fall is durability. If you drop it on a rock or knock it off the shelf in your basement or garage, expect it to crack or warp. Sometimes to the point where it's unusable. 

Check out the Okuma Helios SX. Info can be found right here on fish erie.

bansalrehana
I also use Okuma SLVs. Another great reel for the price. It's biggest down fall is durability. If you drop it on a rock or knock it off the shelf in your basement or garage, expect it to crack or warp. Sometimes to the point where it's unusable. 
 

I've gone thru a few of them. Burned atleast 3 of up salmon fishin. For the money, just pitch em and get another.

I like and have good service with Ross reels.

Use an 11.5 switch 8 wt with a lamson 3.5 for all SR fishes -great combo for a one rod fits all.
Only change to a 5 wt in winter for cold water steel steel.
Sought a lot of advise before buying the Switch and Lamson-- was worth it.

Thanks for your advice

Cast aluminum is basically making a mold and pouring liquid aluminum into the mold.  Machined is taking a block of aluminum and cutting away from it to produce the reel.  Machined is more durable in the long run.