Yea, the accuracy of the reel counter is completely dependent on the amount of line on the spool. The question is, at what level is it most accurate. I would guess not full, but perhaps just slightly under? I have never really looked into it - just made my own assumptions. Because in the long run a few feet here and there doesnt matter.
The South End provides useful resources and discussion forums for those that fish The South End of Lake Michigan for Salmon, Steelhead, Perch, and Bass as well as elsewhere in the Region and Chicago area.