Can centre pin reels be used for fly fishing?

[courty]

I plan to try fly fishing this year, and I've carefully chosen reels and rod etc for my local reservoir (Scout Dike near Barnsley).
However, I live by the Upper Don, which will require lighter and shorter equipment suitable for brook fly fishing. I can't afford to buy two lots of good quality stuff, and it's too nice a river not to fish and practise, so I wondered if I could use what I already have. I've an old centrepin reel my father-in-law gave me that I've never used.
Could this be used for fly fishing? Is there any real difference between the way these different reels work?
The reel is an Allcock's match aerial model C340 4.5inch, in good condition but missing the plastic knob on the ratchet button. It's been in my shed for ages, I checked on the net and I can't believe they go for over £100 on ebay! I might as well get some use out of it.
Any knowledge greatfully received!

[Catfish Virgin (Still!)]

The Aerial series is one of the so called "classic" centrepins and can fetch excellent prices from collectors and enthusiasts. In good condition they are a joy to use by those who appreciate such things. If not in good nick, they can be serviced and repaired (again by enthusiasts).

As for using as a fly reel on a small brook rod (or any fly set up), I would not recommend it. They are heavy and wont work in a balanced way with the rod. The chance of damaging the rod will be high.

See if you can pick up a cheap fly reel with spare arbours as that way you can perhaps use the same reel but easily switch to different fly line ratings depending on your style of fishing. When I flyfished the reel was only used as a handy way to hold the fly line, not much else!

[isle of innisfree]

I agree with cv on balance but there is no reason why it should harm your rod
All a fly reel does is hold your line (except when salmon.bonefish etc fishing)
and your allcock should do that.
But you could get a reel for a few quid! check fleabay and solve the whole thing.

[courty]

Thank you for the replies. I dismantled the centre pin with the assistance of my father-in-law (taking anything apart and putting it back together is a challenge, no, don't bother taking digital photographs, it's more fun the old fashioned way!) and after cleaning every part with a toothbrush it now spins much better, so I'll be using it in the classic way this year. I did, however, wind him up with an old brass screw from a light fitting that I claimed was left over.
My lovely wife bought me a c19th brass reel (tiny gorgeous little thing that my father in law also helped me dismantle...not my wife, the reel..now lubricated and very responsive...not my wife, the reel) for my birthday, so I'll match it up with my ultra modern Leeda 7ft 3 piece #3 weight fly rod from evilBay for £26-00, perfect for the Upper Don at Thurgoland in the coming months. Maybe the reel will be five times as heavy as the new ones, but if you compare character, history and style, it's worth having a slightly out of balance set up. Although I haven't used it yet, my local game shop doesn't stock #3 lines.
I doubt that much is hatching or flying in the current freezing snowy conditions, but I'm full of excitement for starting fly fishing. I have a funny feeling that I'm taking the first steps of a long and consuming venture.
I'm also collecting gear for fly fishing on my local reservoir, which will be more carefully matched...perhaps!!!!