In the time it took to read this entire thread, I probably would have already thrown the reel in the trash and just started looking to replace it.
Reels are cheap and I've never seen any type of screw extraction device that really works good.
I'd like to find the guy who named the EZ Out and see where he came up with that name.
Should have named it the frustrating, knuckle buster, break off device that rarely works.
I'm returning the junk "EZ Out" set I got - it's definitely trash and doesn't work on other screws.
This reel is more of a keepsake and is slightly 'vintage' (Daiwa Coastal 153h - it's going to be a classic soon enough if it already isn't considered one). It's expensive enough to replace and the time and money I've already 'invested' in fixing it up IMHO is not worth tossing it nor is it worth buying a new reel to replace it over (of course, I will be buying more reels *anyway* since I'm a gear junkie LOL). That said, I really love this reel especially after fixing up the drag washers - it's solid and is the first *real* baitcaster I've ever owned, so there's sentimental value too. To me, it's a 'project' beater reel.
On the top of "cheap" reels - I agree that there are definitely cheaper reels out there, but you are sacrificing quality and often durability when it comes to saltwater (which is primarily what I fish). That said, the next "cheap" reels I plan to get will be the Abu Garcia Silver and Black Maxes. These seems like excellent value reels for the price. In fact, the Silver Max was $30~ for a short time on Walmart and Amazon and I was hesitating on jumping on it but just should have. Now they're back up to $60~. My friend has a few Abus and was doubtful about them but has really come to like them - he has even dropped or dunked several of them in saltwater and they're still fine.
I have a Kastking Royale Legend as well which is solid for the price but I'm generally not a huge fan of KastKing stuff and would rather just buy the Abus at that price point. There are more reels (and much more expensive ones) in my collection but I'll probably start getting *facepunched* after listing things out.
Shimano and Daiwa reels are *not* cheap, generally speaking, however (although both tend to hold their value for used resale very well... especially Shimano)... but that's a whole different thread/discussion hahaha.