Rheology, drag reduction and cryo-TEM experiments were performed on Arquad 16-50/NaSal and Ethoquad O/12/NaSal surfactant systems at different counterion-to-surfactant ratios and at constant low surfactant concentrations, 5 mM, appropriate for drag reduction. The molar ratio of counterion-to-surfactant was varied from 0.6 to 2.5. All the surfactant systems described here are viscoelastic and drag reducing. The viscoelasticity and drag reducing effectiveness increase with increase in counterion/surfactant ratio. Network are present in the solutions with high ratio, and they are viscoelastic. However, shear is needed to induce network formation for solutions at low ratio. Cryo-TEM images confirm the existence of thread-like micelles which form entanglement networks, and show that the micellar network becomes denser with increasing counterion/surfactant ratio in one surfactant series. Both increase in the counterion/surfactant ratio and increase in the shear rate result in shorter relaxation times. For some of these systems, abrupt increase in viscosity is observed at certain sheer rates which are time effects affecting microstructure rearrangements rather than formation of shear induced structures.