Metalhead,
I truly love my old 7136, but it is not a tip rod of choice. Sure, alot of guys do it, but it is not what the rod is best at. If I occassionally needed to get down I would go to the poly tips as was suggested. If "real" tips are to be a main part of your agenda I suggest a little more rod.
As for a reel, get one you like, personally I don't put much stock in "balancing" a reel - at least within reason - I won't use my Ross Saltwater V on the 7136 - but my Evotech 9-13 or Lamson L-7 or L-4 - are great. The weight of the reel doesn't matter as much as many think it does, after all you are using 2 hands on the rod, it is easy to compensate. Furthermore, guys who fret over where their rod teeters in their hand are not thinking about balance in terms of 60+ feet of line hanging out the end of the rod tip!
My reel advice is, find one you think is cool, is in your price range and holds at least 150yds of backing and buy it.