Re: Bait casting set up
 

You can get a Lew's Speed Spool Tournament for about $140 and a Berkley Lightning Rod or Lightning Rod Shock for $40. Lews reels and Lightning Rods offer a lot of performance for the money. The Bass Pro Shops B ionic Blade is another good rod for the money and it's on sale for under $50 right now.

Or you can get the basic Lews Speed Spool for LT $100 and get a better rod, something like the Fenwick HMG or Shimano Clarus also LT $100.

Personally, with a baitcaster, I'd put more money in the reel and save a little on the rod with the idea of upgrading the rod down the road (For spinning I reverse that and put more money into the rod).

Last spring I picked up a Shimano Curado on sale at Dicks and along with some coupon points it ran me $135. If you can find a deal like that the Curado is a pretty nice reel and you can pair it with a Lightning Rod or B ionic Blade and have a really nice outfit.

As far as the type of rod, I think you will find a 6', 6" to 7' medium, fast action rod with a line test range somewhere in 8-20 lb range to the be the most versatile.