Dean, I'll echo the recommendation of the Redington Classic Trout. They've gone up to $189 now, but are still a terrific deal for a medium action trout rod. And if it interests you, I can send you a 9' 5 wt Ordella - it's built on a Rainshadow blank and similar to the CT but I no longer use it.
I don't know of any real bargains on quality fly reels. But cheap, reliable line holders abound on Ebay. Lots of old school cheapos going for around $35.