I read on a previous post that Penn was sold to Master. As a result, a lot of the parts are going to be manufactured in China. There will probably be a decrease in quality as a result of the buy-out.
An Ambassaduer is always a good choice for parts availability and durability. Or if you need something with more line capacity, try the Daiwa 50H.
The fishing gear I got from my Grampa has more sentimental value than anything else. I wouldn't dare fish with it. Not only am I afraid to break it, but todays rods and reels outperform it hands down. I think your son will appreciate the memories more than anything else.