Hio, J.. there is no corrosion....all there ever was, was, a slight stain of rust on the handle under the keeper, and under the hdle nut.
It's been treated with panther pee (penetrating oil) for about a week now, and several hits with the lpg torch. Impact wrench it will be, as the owner of the reel also owns the tire store. If something breaks it's on him, as I will provide the socket, and he will provide the torque.

But first, I'm phoning Okuma tomorrow, to verify the thread direction.