I'd agree with getting a Z series as well - I got a 710z for $28 on eBay for a Christmas gift. I think you would be better looking for a used Penn (Diawa, Shimano, etc.) in good shape rather than spend any money on the Stratus from Okuma. I remember checking the Okuma catalog and I don't remember finding the Stratus - could it be the brand name they make for the #^^^^&'s chain? With the Penn reels at least - there are many places to get replacement parts and people to service the reel. What is going to happen a few years down the road when you want another spool, or need a part for the Stratus - will the closeout reel have a network of dealers with spare parts and spools?
I briefly fondled a Tica Dolfin spinning rod today - I think they are around $85. A Tsunami rod is another cheaper option that many seem to have good things to say about them. I have a Daiwa Sealine-X that I got for $50 new and it is very nice to fish with. I think you can set yourself up pretty well for about $125. You can get something at Wal-Mart, but I think there are some very well regarded sponsors here that offer competitive prices for better equipment than you can find at Wal-Mart.
Good luck - shopping for equipment can be a lot of fun.
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