Bacota,
Tropical salt water fishing is a once in a while thing for me, so I have been getting by on the cheap. I'm heading to Mexico in 3 weeks, and my heaviest rod was an 8 wt I bought for a Bahamas trip 2 years ago. It is a house brand rod from "The Fly Shop" in Redding at $125, and it was plenty good for bones, and a faster action than I prefer. Long story shorter: check out Cabela's Three Forks series rods. 4-piece 8 and 10 wt for $59.99. Amazingly good action and feel and looks and finish for that price point. Look every bit as good as rods priced $250 or so. I just got the 10 wt to add to my quiver. I'll have a fishing and tackle report Mar. 9.
Saltwater worthy reels are a tougher proposition. For value I recommend checking into Allen Fly Fishing tackle. He has some really good import reels for as low a price as you'll find. I have one I got on a close out last year for $45 - he doesn't have any that cheap now - and I've got it loaded for the 8 wt with a bonefish line. If you'd rather not take that chance, the Ross CLA is a good reel for a little over $200. Or the Orvis mid-arbor gets good reviews also. And the best deal of all is to just borrow Vedder's stuff if he can be without it for as long as you'll be gone.
If you can do it, try and take both an 8 and 10 wt outfit. That way you aren't so over-gunned for the bones or small schoolie permit, and you still have the horsepower for larger permit, baby tarpon, 'cuda, snook, etc.
Have a great trip!
Sg