Got the last 15 seconds. Interesting concept.

Could've swore my Fin Nor Offshore was going to burst into flames on the last big tiger shark ;)

Yep , seen a few vid's were they get the reel smoking , but no flames. 

Now i wonder if the reel was made of Aluminium( has a lower melting point ) and a spark was created , i actualy think you might get a flame ?

Also what if the aluminum reel had Magnesium in it . ? Has any one seen what happens to magnesium once it reach's a flash point ?

Just asking, You could add many more factors to get a flame, would be fun to try .

 Myth busters is a very entertaining show, but the scientist in me gets annoyed sometimes. Like they'll test a few reels, not get them smoking or in flames and call it busted. Well, yes if it was that common, you'd hear about it all the time! Would be a very rare thing with a specific reel in a specific condition. That being said, I doubt a reel would catch on fire...

Yep, lit a few magnesium strips and they burn mighty bright. Not always the easiest to get going if you don't have a blowtorch. It can be done, but it needs to be very thin, and reels don't tend to be. The reel could catch fire if the grease caught fire (well, only the grease or plastic would burn). 

Someone post up the results for those not watching

 Here's the last 10min of the show,with the "large fast fish" on the reel.

http://www.youtube.com/watch?v=F7WETC6SU-s