No comment on the rod, but if you are in the $120 range for a reel you cant go wrong with the Quantum Energy PTI. Its solid, has a great drag, and has a magnetic bail spring. Go with the 20 size. Here is a link to TW. They sell it for $10 more than any other place I know, so you can find a better deal (but savings may be offset by TW's free shipping)

http://www.tacklewarehouse.com/descpageRLSQUANTUM-QEPTIR.html

Since I couldnt afford that reel, I bought the Shimano Symetre, and I really do like it, size 2500.

http://www.tacklewarehouse.com/descpageRLSSHIMANO-SSYSR.html