Depending on how much fishing you're intending to do; either the Muzzy XD reel or the Shakespeare Ti20
If you're going to be doing a LOT of shooting; the Muzzy. They're expensive at around $45+ BUT they're built for the job.
The Ti20 is a damn fine reel, but isn't really strong enough for handling large numbers of large fish, often, without some modifications. But, you you can pick one up from Backwater for about $25.
If you really MUST use a Zebco, the 808 or 888 is the most suitable. The main issue with Zebco is that they're simply nowhere near tough enough for the rigors of bowfishing. The pins are weak, the drag system is poor & the foot of the reel will snap if you look at it too hard.
Line-wise, you want either Brownells 200# fastflight bowfishing line, or 150# Tournament line.
Myself, I use the 200# again, from Backwater Bowfishing.