The 1201M is a great rod and has worked fine for me with 2 oz. pencils and spooks. I might prefer something a little lighter for pencils that size but it's well worth the small sacrifice when you get into a decent fish. You can wear a bass out pretty quickly with that stick.
You could probably get a 1201L and 1201M custom with a basic wrap @ M&D's for not that much more than you would pay 1 Arra most places.
thanks for the help, i appreciate the replies. after checking out tony o's 1201M that Back Beach wrapped for him I'm definitely sold on that blank. seems perfect for what i wanna do.