I use ML action, M action will be hard to cast light weighted lures like 3g, or fly. fiber glass and carbon rods for me it does `t matter since they all very light, length I use from 1.58m to 2.1m, mostly use 1.68m, easy to carry and considering all the walks along the banks, two rods, gears, lunch, water....was using spin reels but now only use bait caster reels because it can cast out with accuracy, especially in place with high density of trees, or cross winds.. $500, I am sure you will have lots of options, reel will take out much of your budget, but some OEM reels is very cheap if you could find them.
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