The Lucanus version has a nice Power Handle. The Lucanus one also has 2 more S-ARB bearings. Just go look at the specs on shimano's page. I have the 400 TE Lucanus one, it's smooth and powerful. If you plan to inshore fish, just get the lucanus one, the handle alone makes it nicer to crank in bigger fish.
Yup. The handle and 2 bearings alone is worth $100. The 2 bearings adds an appreciable difference in smoothness over the standard CTE400. It's worth the $100 dude, especially if you're gonna lucanus/inchiku jig. I don't recommend you use this reel for big AJs or groupers. Smaller AJs, snappers, and smaller groupers, kingfish is perfect for this reel, basically inshore only. You probably won't be able to stop a 50+ lb AJ with the 16 lb drag on this reel before they run u into structure and cut you off. Don't get me wrong, it's a tough little reel, but if you're thinking about big fish, go with a trinidad or saltiga overhead reel for that price. If you search on ebay, u can get some awesome auction deals. I bought mine for $280 on ebay, shipped, paypal.