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Good tip on the drag washer, but you can get the reel apart without dealing with the spring-loaded circlip. (I unloaded the mainspring on a double barrel shotgun action once, and I've tried to avoid disassembling spring loaded assemblies ever since!)
Hit the trigger to cock the rotor open, i.e., with the rotor pushed forward and the pick-up pins retracted, in position to let line come off the reel. This allows the front cover to be removed without fouling on the rotor. Once you have removed the front cover, hold the crank and turn the rotor counter clockwise. It will turn right off and voila, access to the clip that holds the spool, and the washers beneath.
Make sure the factory didn't leave anything out! Here's a link to a schematic.
I've used a lot of underspins, and this design is ok. The same basic design, with more bearings in place of bushings, and an anti-reverse bearing, was also sold as the now-discontinued Synergy Ultimate, a better reel if you can find one. Also the basic design is used in the Pflueger Microspin and Underspin reels, (now called Trions, I think) and President and Cetina underspins, with more or less bearings, anti-reverse bearings, and different frame materials.
Pretty good little reels. The smallest size needs good, fresh, limp 2 or 4lb line to work properly. The #6 size will handle 6lb line, again good flexible line, or you're asking for trouble inside the reel.
If your reel has some slop in the action, check the bearings' and bushings' fit in their sockets. If they're loose, make shims from foil to tighten them up in place. If there is sideways slop on the crank axle, some tiny washers from the hardware store can help with that. The base level Pfluegers can really benefit from this tuning, their ball bearings make slop in the drive train very noticeable, but it is easily fixed.
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Thank you Just bought one of these reels over the winter and was having the same issue. Followed your instructions and it is now working wonderfully.
