It's a great reel, basically a Squidder with bushings instead of bearings. The only other differences are that the Surfmaster doesn't have the switch at the bottom that allows you to backwind it (not that anyone I know ever does in this age of braided line) and also the retrieve ratio, the Surfmaster retrieves at 3:1, and the Squidder at 3.3:1.
My first rig was a circa 1972 10' Grizzly/Fenwick and a 200 Surfmaster. Started casting it over grass at the local high school field when I was 10 (liked the cool sound) and started fishing it when I was 17. I still have it and occasionally use it although the rod has been rebuilt twice and the reel has been tweaked so much you wouldn't recognize it anymore. Lots of cool aftermarket bits and pieces for the Surfmaster, Squidder and Jigmaster series of reels.
The one on top is the 200 with Newell bars, base, spool and bushings. I have another converted to the 100 (Junior) size that is one of the sweetest casting reels I've ever owned.
The bottom one is a tweaked 146 Squidder Jr.