The 965 would probably work, it's like the penn version of the calcutta. Why get rid of the 400S? Once your thumb gets trained and you get used to your hand being on the foregrip rather than gripping the reel, it has a lot of benefits. Most guys just don't take the time to train their thumbs.

I bought a 400S for saltwater use back before I started throwing swimbaits and being the cheap kid that I was, didn't want to buy basically the same reel again, so I just used the 400S. A couple months ago that reel got stolen and I went for the 400S again rather than the 400, just becuase I got used to it and liked it so much. You get better casting distance, and once you're used to it I think you can get a better hookset with your hand in front of the reel. It's more of an upper cut swing with your arm rather than a curling motion on the hookset. Not to mention the ease of backlash removal, with no crossbar :P

To tell you the truth I'd almost prefer any reel 300 size and up without a levelwind. The extra casting distance is clutch, and it can definitely be a benefit rather than a drawback, just takes a little practice. I actually find myself holding my other swimbait rods (that have levelwinds) in front of the reel with my thumb on the line... I guess I've gotten too used to that 400S. Ya know, maybe I'll do a little hacking on my catala and make a CA300S... hmm, shimano techs, any foreseeable problems?
-Brian