Read through the recent thread below. While usually the rod and the line are more important than the reel on smaller rods, for pike the reel becomes more important and needs a good drag system.
If you can up you're budget a bit you will probably be a lot happier and won't have to buy another one. You don't have to spend over $500 or anything but an extra hundred would really help you. Check out the link to Snowbee reels in the thread.
http://www.outdoorsmenforum.ca/showt...hlight=snowbee