I have 1 medium spinning reel for soft plastic baits. I have a 7' MH ugly stik that I want to get a baitcaster for, for crankbaits,jigs, hard plastic baits, etc. Any suggestions?!

What's cheap?  The BPS Extreme is  a well regarded reel and can be had on-sale at really nice prices.

underwraps1,

There is a fine line between good and cheap and its awful hard to walk it.  If you have the mindset that 80-100$ is still acceptable then you will have a much easier time.  I invite you to look at the Shimano Citica.  They can be almost stolen on eBay.  All this is just my opinion.  Many will argue that there are reels whose price is much less than what I have just quoted while not suffering quality.  So please take this as advice only and just one mans opinion but I would have to disagree with them.  Having the "problem" of picking out a new reel is a great one to have so good luck  

Jake

'Good, cheap baitcaster' is an oxymoron.

I agree with the police. You can get by with a $40 spinning reel but to get a baitcaster that will perform you need to spend a little more new. I would look into the Citica E for new $119.00 or you can find a Citica D very reasonable on EBay. Heck I've got a Citica 200D, 5.0 gears if you want one, send me a PM

The two best value baitcasters I've used:

1. Cabelas Prodigy ($79 on sale)

2. BPS Extreme

I bought my first baitcaster this last season. A BPS extreme, which it turns out, I like it a lot.

I bought the BPS extreme for my dads first BC.  I was very suprised at how well this reel felt for the money.  If I "ever" had to buy fishing stuff on a budget, I would buy one of these.... i'm not even that big of fan of BPS.

I need an all around MH baitcasting rod and reel. Preferably for under $120, what would you suggest for me?

Well for your price range a BPS Extreme reel and BPS Crankin' Stick would work, the Crankin' stick is on sale right now for $40 and the Extreme reel is $65.

BPS EXTREME rod and reel combos , just went off sale but they will be on sale this spring you can get a good dependable reel with a decent rod, in a matched combo for 99 bucks, I would strongly reccomend this

BPS has the Daiwa TD-Pro on sale for $99.99.  

12 Bearings

Swept handle

Magnetic brakes

1 Pc aluminum frame

Drilled spool

Nothing cheap about this reel. I highly recommend this one.

Falcon

Cabelas has the Quantum Accurist PT normally $130 on clearance in the bargain cave for $60 in the RH versions

http://www.cabelas.com/cabelas/en/templates/product/standard-item.jsp?_DARGS=/cabelas/en/common/catalog/item-link.jsp_A&_DAV=cat21406_feat&id=0030217115659a&navCount=1&podId=0030217&parentId=cat601360&masterpathid=&navAction=push&catalogCode=OG&rid=&parentType=index&indexId=cat601233&hasJS=true

I'd have to go with the Shimano Citia.  They are on sale at Cabela's for about $90 NIB.

Can I put 14 pound line on any of these reels?

#14 should be fine.

If you are used to spinning gear, you may want to consider a left-hand retrieve model. However, there may be fewer options. Cheers!

Citica