A couple summers ago I spent two and a half weeks fishing Newfoundland. The vast majority of fish caught were grilse, 4 -7 pounds or so. The best fishing for large fish was found on Harrys River near Stephenville. I can recommend staying at Dhoon Lodge on that river. Great guides, good value and a realistic chance at large fish. Harrys is catch and release only, so it doesn't get hammered by the locals quite as bad as other nearby rivers. Early July is the best time to be there, give or take a week, of course.
Other streams we fished included Flat Bay Brook, Barachois River, Humber River, Robinsons River, Northwest Brook, Southwest Brook, Torrent River and my favorite, Main River.
I brought my Sage 9140-4 and Reddington 13' 6" 7wt DFR. Except for the Humber, a two hander was really overkill. All water could be reached effectively with a 6, 7 or 8wt. single handed rod. I bummed my buddy's old Sage 9' RPLX 7 weight whenever possible.
The most effective fly and presentation was a slender Bomber, natural deer and calf with orange palmered hackle, fished upstream drag-free. Very much fun.
When I return someday, I will locate one of the better guides I had and try a do-it-yourself camping trip near Stephenville. I will fish Harrys and, after the the catch and kill season ends, Flat Bay Brook. Then I will head up to Sops Arm and spend a week in the back country on the upper Main. The Main watershed is one of only two remaining watersheds throughout the entire Island of Newfoundland that has not yet been harvested for pulpwood. The river is truly a gem worth visiting, and saving for our grandchildren.
The Torrent is an elbow to elbow combat catch and kill fishery. All salmon fishing is restricted to floating lines, no weighted flies. I picked up a grilse one morning literally behind the knees of some guy fishing further out in the river. I thought he was going to crap his pants when the fish jumped right next to him. I won't be fishing the Torrent ever again.
Newfies are just a fantastic bunch of people. Go and expect to have fun.