Well.....you're really talking about two different kind of set-ups here when comparing panfish and smallies, and finding something that will last you a while for under 50 dollars might be hard to do. As far as reels go, try looking at the Shimano Sedona. You get a-lot of bang for your buck with it, and I have yet to have any problems with any of mine.(I have 3 of them) They're an anti-reverse 3 or 4 bearing reel that's really smooth for under 50 bucks. For smallies to panfish look for the 1000 class size, the 2000 or 4000 model is too big.
As far as rods go, there's an endless list of them. I use Fenwick's myself, but they might be a little more than you want to spend. Find a Cabela's or a Gander Mountain and go in and see what they have on sale that week. Sometimes you can find some pretty decent deals. As far as lenght, I'd guess a 6' graphite rod in a light action should be somewhat of a cure-all. If you didn't have the smallie equation in there I'd say find an ultra-light in the 5'6" range, especially if you're going to be casting under tree's and limbs on the trout streams. Hope this helps a little. Try to find someone that's knowledgeable at the store you purchase you're gear at, even though it's somewhat difficult to find anymore.
CRITR
