SpeyJunkie,
Several of us on the board have this rod, and we'll probably all have different opinions. I'll tell you what I use and like.
Line: Airflo Delta Long 9/10 (I got this before the Traditional came out) w/ tips. Beautiful lines for this rod. Rod loads nicely, but I never feel like the rod is having to work too hard. M. Bachmann recommendation, and he's right I do believe.
As for reels, I'd go heavy--9 oz. or better. With the slightly softer action of the 1509 (I'd rate it med/fast) it can, if not balanced properly, feel like a big stick. Don't know how much that Hardy weighs, but that's such a sweet reel, I wouldn't let an oz or two bother me. If it were me, though, and money were not an issue, and you wanted a reel that would take all kinds of abuse, and yet remain somewhat on the traditional side (at least when compared to Loop and Lamson), I'd go for a Tibor Gulfstream. No, that's not "traditional" in the way that Hardy is traditional, but they give you the added advantage of large arbor, which I've come to appreciate over the years. They're somewhere above 10 oz I think. Can't go wrong with Hardy, though. You're going to love that rod, by the way.