I recently made a post looking for a baitcaster.  Well, I finally decided ya know what, if my spinning reel is working, why change?  So that being said I have some pretty low end stuff.

I have a shimano solstace 2500 fl with a berkley cherrywood HD 6'6" Medium rod.   I was looking for a better rod and reel combo $150 being max.  This will be used for Walleye, northern, bass mainly and I prefer 20lb braided line on the reel.  Just looking for a nice, smooth long casting setup.  Most likely I will have to order it online because I have no stores around me aside from walmart.   

I would like a lighter reel, as mine is about a pound and I am not sure if I should even be using this rod with the reel, I broke my old one so I got the cherrywood for cheap.

You are in luck but you have to act fast. Right not Cabelas has the 30 size Pflueger Supreme spinning reel for $70 and their XML spinning rods are on sale for $75, that is $145 combo with free shipping on minimum order of $99, it is a great deal. At normal prices that is a $250 dollar combo and the XML rods are quality rods, at retail of $149.99 they are good rods, at $75 they are absolutely awesome and I have a Supreme spinning reel in a 30 size, it is nice and light but butter smooth, a big upgrade over your current set up, you'll have to pinch yourself to make sure you aren't dreaming.

Neither the rod, nor reel are bad, really.  Consider taking both to your local store and matching each with new rod and reel.   Then you may end up with two combos you like instead of just one.