Anybody know why BPS has these on clearance? The spring catalog says
"NEW" next to the item. I wonder if they are just on sale, rather
than clearance.

The 2004 Capricorn 'A' series were just released by Daiwa. What you see on
clearance are most likely the older model of this reel. Just check the part
number, the new models all end with letter A (i.e. CA2500A) as opposed to the
older models (CA2500). I hope this helps.
-JIM
Jim Horner
http://www.teamhornerfishing.com