My neighbor just gave me a penn 310 gti levelwind reel. What should I use this reel for?

My neighbor just gave me a penn 310 gti levelwind reel. What should I use this reel for? I put 50 pound braid on it for shark and tarpon on the beach and bottom fishing for grouper offshore. Has anyone used one? If so, could you tell me what you used it for? How well it performed? Thanks!

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