I have a g loomis at home it's a 7-1 foot fast action rod. It doesn't say anything about med/mh/heavy 

what would you say this rod is best suited for? 

What is the model? 852, 853, 854?

Bcr853

 

Medium Heavy / Extra-fast

Very nice...the original 893.  Liked that rod a hair better than my nrx 893 only because it was maybe a half power heavier..

Just right.  Dynamite plastics rod...still don't like any 3 powered Loomis for jigs.

Just Texas rigged worms or? What exactly would you suggest 

I say plastics because I assume you are throwing 3/16 to 3/8, even though I rarely throw 3/8 with plastic.  If I'm doing that I'm pitching or fishing somewhere a 3/8oz t- rig isn't the best option.  Get yourself an 844 loomis and you'll have the ideal  pair for plastics, jigs,....or really anything on the 844.  Maybe the greatest blank ever made