My friend had the same kind of problem Dave, and what he was doing was bouncing around the rod tip on the retrieve which was causing the line to spool too loose. He would reel in with the tip doing spastic elliptical movements up and down which would cause the line to lose tension. Try retrieving while pinching the line so it always has tension, if it still happens then it's probably a mechanical issue, if not then you know it's just slack line you're reeling for some reason. My buddy was able to do it with a St. Croix MH and a Stradic 3000 spooled with 40lb. PP, all my gear so I know it was working fine. When we switched gear he did the same thing on my gear, XH St.Croix with a ci4 4000 spooled with 40lb. PP, but not as bad because the XH rod tip wasn't whipping around as much on his retrieve. Good luck, hope you figure it out before the season really starts.