Consider equipment from Temple Forks Outfitters. Cast them to see what works, and then see if you can pick them up used.

Also, Orvis does a traveling clearance sale. I ahve picked up some cheap tackle here in ATL from that event.

One of the problems with flyfishing is that everything is overpriced. It is a fairly seasonal recreation business, and the manufacturers and retailers have to operate on high margins. That means 100% markup at each stage for 50% gross margins for the maker and seller. The makers don't allow discounting either. The other problem is that you can go too cheap. Some of the stuff at the low end simply is not worth the money that you spend on it.

If you are going to fish steelies, I would recommend a disc drag. You will need a good drag and pick-up rate, and you probably already know from gear fishing from them.

Cabelas does have a real called the Deschutes that is a large arbor on close-out in the Bargain Cave. It is made in England and looks a lot like the Orvis Battenkill Large Arbor. I don't know squat about it, but perhaps some others on here do.

Bass Pro has a line of White River reels that have gotten pretty good marks for drag performance, etc. in the lower price range. I have not used one myself. I am partial to Orvis and Ross Reels.

Fly Anglers Online is a good resource for flyfishing info. Google it.