I own both the rod and reel you're interested in (although I don't use them in conjuction.)  The ***'s an excellent rod for it's price point.  I bought one recently to replace a MH/F rod I didn't like due to lack of sensitivity.  I use it for bottom contact rigs like jigs/rigs.

 

The *** handle is on the smaller side, so people with big hands have mentioned they don't like it as much.  I can see where they are coming from, but it fits just right for me.  Might want to hold one in person before purchasing.  Food for thought.

I have bought everyone of my Lews TP  from $118- $127 (mostly in the lower range).

 

 

you got to shop.

Sounds like you have it figured out already but I also got my first baitcaster setup this season. I had a lesser budget but ended up with a used Shimano Curado 201e7 and a Fenwick Silverhawk MH-F. Have loved it and since picked up a used Shimano Chronarch to add to the collection. 

 

I've heard the same about the *** *** Black and have been thinking about picking up a MH-F myself. They do seem to be a bit tip heavy but I have yet to hold one with a reel on it. Might have to give that a go next time i'm at Cabelas to seal the deal. 

 

Good luck, the *** Black and Lews sounds like a great combo.

Like others have said, there are going to be some black Friday sales so now would be the time to pick one up. Look around and check out some reviews. You are probably going to start out worm or jig fishing so a rod thats 7 - 7'2 will cover a broad spectrum of techniques. Check out the Denali Kovert 7' mh or the Denali Jadewood 7' mh. I have both and they are great rods for the money in my opinion. Super sensitive and light.

Also on the reel I started off with a fast reel geared in 7:1. But if you want something middle of the road for more techniques you can go 6.4:1. Abu Garcia revo s or sx are nice reels to look at.