Most upper middle class new baitcasters have between 14 and 17 lbs of drag on them. Pair that up with some 30 or 40 lb test braid and you can really put the drag to them and they won't creek and groan under stress. I recently caught a 39 inch red on a Lew's Tournament Pro reel and had no trouble fighting or landing the fish. If you need more power than that from you reel then might try the new Shimano Tran X reel.
Ive caught up to 43" jack crevalle on a trout rod and reel with 20# braid and it never acted like it couldnt handle it or made any noise besides the line peeling off like crazy. Like the others stated, something is not right with that particilar reel from the sound of it.