RE:A question for Captain Ray
I will defer to Ray but the buzz on the street is that Waterworks makes the new Sage reels. I would put my money on that hunch myself. The sealed drag system, although quite different than the Lightspeed / ULA Force drag in design, has the same zero-intertia feel to it.
Hunter's annual new product review states "derived from the Waterworks reels".
Offline discussions with other big retailers would imply same.