This is not the first time that concept has been tried. Wish I could remember the manufacturer but I recall pictures of a reel from ads in the 50 or 60's that instead of an eyelet had a piece of square stock with a twist in it that when it revolved would lay the line on the spool evenly. My dad was a tournament caster in the late 40's and early 50's winning T.A.H.A. championships at the C.N.E. , learned to fish with better quality knucklebusters of that era , Langely's , Inglis/Shakespeares , was pretty into it as a teen.
EDIT: found a pic of what I remember, was more of a trolling type reel from Penn, but the concept is so close I would wonder about patent infringement if it applies after 35+ years
http://cgi.ebay.com/Vintage-Penn-LEVELINE-...=item1e5726aa86