I'm looking for a rod to throw small cranks and double as a small jerkbait rod.

For those that have this rod, what do feel this rod handles well?

I prefer a longer rod for crankbait fishing to get longer casts. This keeps the bait in the strike zone longer. Beside the length, the power and action seem like a good match for the techniques you mentioned. I go with a Mod action to fish deeper.

I own an older model of this rod.  It works pretty well with lipless and 0 to 6 foot crankbaits.  The action of the rod is slightly on the soft side of medium which gives it a good whip when you cast allowing it to cast pretty far for a 6'8" rod.  It is a great rod for hooking the fish.  You won't rip the trebles out of the fish's mouth with it.  I wouldn't use it for deeper cranking though as it's action is too soft and the rod is too short for this application in my opinion.  Get a longer rod with a little stronger action for deep cranking.