Hi again Geoff, In my opinion, that reel has plenty of meat on it, a little hard to see the bed knife blade; but in any case from the appearance of the reel, it needs to be professionally sharpened.
You need to remove both the reel an soleplate complete with the bedknife still attached, and take them both to the engineer/machinist who will spin grind the reel and face the bedknife correctly for you. Instructions on how to do that are found
HERE To adjust the clearances correctly on the re-install, you will need to check the serviceability of the reel bearings, these are cheap to replace...so please do so if you are in any doubt at all.
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