Best cheap bait caster I have found is the Shakespeare "Agility" series. Around 35 bucks, and tough as nails. I bought three four years ago, and have caught hundreds of bass on them without one second's worth of trouble. At Wal Mart they are 28 bucks.
I caught a 45# flathead a couple weeks ago on a Shakespeare Micro series with 4# test line catching bait. He swallowed a bream right beside the boat and I wallowed him around for 50 minutes but I finally got my hands on him and got him in and got him weighed. But I wouldn't recommend that reel for catfishing.
What kind of cat fishing is being discussed? Would this be dedicated trips for big fish or general fishing locally? For big fish, the guys above have put in good advice with the Abu reels. If you are definitely targeting very large fish, you may even get into penns.
If I were going to the local rivers and lakes, I would be using cheaper spinning setups or the Shakespeare stated above.
I don’t have the experience many on here have, but I don’t know that I would ever be big into baitcasters for cats. I prefer spinning reels.