I have bern a St. Croix LU/LE freak for many years, but the sweetest rod I've handled lately is that TFO BVK. I'm reeeeally impressed with those rods but I am not capable of buying just one of anything so since I can't afford to buy 6 new BVK's I'm gonna stay loyal to the folks in Park Falls, they've been really good to me.
I skimp on reels, have never owned a fly reel that cost over $80 brand new. I choose one that balances a rod and is designed well, then do a little custom shimming and tune up the drag system.
Anyone with some machining/mechanical knowledge can easily convert a "decent" fly reel into one that'll do everything a $300 will do.