I going to buy a shimano caenan with a lews sg1 7'4 heavy mod-fast for small swimbaits, wakebaits and flipping I just wondering if this is a good setup and what line I should use for this

You're asking an awful lot out of a rod, treble hook baits and flipping. But if I were you I would spool up with 15-17lb mono/copolymer. Senshi, big game, cxx, yo-zuri hybrid.

P-Line Copoly in 15# and up, but like stated above that’s a tall order for one rod. 

I mean i think this is a good choice for flipping/swimbaits and I might go with 20 lb flurocarbon

Luke do know the difference between flipping and pitching?

Flipping you don't use the reel,it's all rod.

Tom

Flipping you want a heavy fast with a 7:5 or 8:3 reel...

 

swimbait I would go with a med heavy in a 6:3 reel...

 

personally, i would use a different rod/reel setup for different presentations..

50 or 65 lb braid and use leaders for what you need.  Wakes use mono sb use copolymer or flouo and flipping strait braid