FWW I'm using Penn Lever Drags.
My favorite for all around is the Penn 330 LD level wind. I'm using 30lb test on it , soon to have a 60lb wind on leader. More then adequate for yellow tail IMHO as it handles most species here.
My 50lb rig (you don't need it for yellow tail I think) is a Penn GLD 30 . I got it specifically for large ahi and small billfish.
For smaller stuff I have the Penn Internatinal bait caster 975 15 lb test. As you never know out here what size fish will hit I had the dealer cram 300 yds of spectra with a top shot of ~100_ mono. I don't do much casting,but it makes a hell of a light line trolling reel.
You can get by using the rear rod holders, but as Al says make sure you have a safety leash. As you also noted the main sheet can knock 'em overboard.
This rig may be busted up by a big hit , but I'm trying it with light drag settings. It stay out of the way of the sheet. A rather long reach though.