The lightest rod I own other than an ultra light is a medium action. All the fishing I do requires sensitive tips and powerful hook sets. A 7' ML Shimano Compre baitcasting rod was given to me. Seems too whippy. Any suggestions on what application it might be good for? Otherwise i'll sell it.  Maybe a light cranking or spinner bait rod? Thanks

Maybe a light cranking or spinner bait rod?

Yep.

Drop Shotting and top water (treble hook lures) too. That whippiness that you might be concerned about is what is going to serve you well.

The use of lighter wire hooks with drop shotting and other finessing techniques or treble hook lures (topwater, cranks), would mean you won't necessarily need a cross the eyes hook set.  If that were the case, I'd be missing a ton of fish with my ML powered 7' drop shot rod.

I think you will be pleasantly surprised. Congrats.

Which would be the best fit?  Curado, Pflueger President, Diawa Fuego?  

I am very interested in which reel is recommended for this rod, as I have the same except in the 6'6" version.

I would think Either the Curado or Fuego. By my experience the President is not too friendly with light baits.

Daiwa Sol..... :

Just my $.02

I'd choose either the Curado or Fuego. My experience with my Trion BC while a good reel, it doesn't in my hands seem to fare well with lighter weights such as 3/16 oz. Hope a president would do a better job than a Trion. A curado makes short work of 3/16 oz.