These are big level wind reels with a lightweight graphite frame and large handle. Both feature a 3.25:1 gear ratio. 340GTi is a 4/0 that holds 475 yards/30lb. test. 345GTi is a 5/0 that holds 375 yards/50lb. This reel is popular for heavy duty bottom fishing and it is also suitable for live baiting and trolling. These reels are pretty inexpensive selling for around $150 new. The 340GTI and 345GTI are dramatic departures from traditional Penn styling. These level winds are designed for pretty serious fishing including wreck fishing, trolling for bluefish and small tuna or drifting live baits for big game.
I used to own one but it didn’t hold up over time. After the second season this reel was more or less junk. The worm gear and idle gear were both missing teeth and the both eccentric springs broke free. Maybe the reel I got was and anomaly, made on a Monday by some schlub with a hangover. If you are looking for a cheap reel with decent power this is it but if you want it to last you should look elsewhere.