I forgot to update - This was a big case of user error! Now it wasn't helped by Cox's manual which says drag can be caused by incorrect wiring - if it is 115v? Not being an electrician I just figured 'ok, not for 12v'. And the Cox policy that their reels and parts are warrantied from when THEY bought them, not when they were sold to you, is still ridiculous.
There was a series of things that kept me from getting an accurate assessment. But the problem was I had a big heavy duty solenoid - from a WINCH! Something that is definitely not supposed to free-spool!