FH,
Scott makes nice rods. Any 5wt is perfecct for fishing lakes and small stream. Sage has an entry level rod (Sage LE) for about 150-175 and Orvis has the Stream line for under a hunder bucks in 2 or 4 piece. I have casted the Orvis and it is not a bad rod, I think it's better then some of the other hig end lines.
I do like Sage rods and the XP is my favorite , but I am thinking about getting the Orvis Stream line as a backup for lakes and small stream.

If you can, cast them and see for your self.

Lines; I like Rio for my 8wt but would go with a DT mastery series from SA or Wonderline trout from Orvis for 5WT floating.

As far as sinking lines go, SA has there wet cel, its a good line and it will do what you need it to do.

Reels, I prefer Ross but for the price range you are looking at, I would go with a Orvis (good reel for $40 and it has a disc drag)Clearwater, LL bean and Cabela's has decent reel for that price.

Also check out sierra trading post, you might be able to find some deals on lines, rods, reels.