Fluke,
I had one of those Penn's and for about four months I was highly impressed, rated it higher than my Abu's, Daiwa and so on for smoothness and just a nice solid feel.
The, bang, started slipping and basically just croaking. Chucked it, although with some disappointment, as it had really a nice feel to it.
I think the fact that Jarvis Walker features here might be relevant, as I had a similar thing happened with a top-end Jarvis Walker I had - BUT, in fairness, after it landed a 72 kg shark on 12 kg line and more than an hour's playing 'up and down'.