Hi Trevz
The grandwave doesnot have a pin ( usually the one in the center of the spool used to attach the line onto the reel) As for the casting distance, this could depend on technique, spool tension,type of gear, trace and sinker weight.
In the grandwave there is a centrifugal break inside.....this is supposed to help with overwinds. This is two small pieces of weights that "throw" out when you cast. I have remove this from my reel and it has helped with the distance
Regards
Dinesh