The new Penn looks like a decent real and not anything like a few of their "bad" reels. It got a lot of good reviews. I don't have any personal experience with it and being new, it is untried at this point.
Like BT and NW said, Daiwas are not bad reels. I have a couple older models that are still going. Their new models are nice.
However, in the $200 range, I too, would go with a Shimano. I have an few year old Stradic and love it in the surf. I also tried out a new Stradic and Sustain...very, very, very nice! Lots of new and improved technology, not too bulky, smooth as can be, casted well and Shimano Quality. Not too often you hear anything bad about a Shimano.
Good luck!