gizmo, let's just be sure I've understood the picture correctly, because the chain is not fitted in the picture. Is the 12 tooth sprocket driven directly by the motor shaft sprocket? That is what I've thought was happening, but if I'm wrong, and the motor shaft sprocket drives the bigger sprocket behind the 12 tooth one, then the 12 tooth is actually a driving sprocket, not a driven one, and a 10 tooth sprocket replacing that 12 tooth would actually slow the drum drive by 17% without changing the speed of the reel. That would be exactly what you want.

Can you post a picture with that front chain installed (from the engine shaft to the reel) so we can see which sprocket it drives, and we will end up with a sensible archive?