I run the Daiwa M-One Plus reels on my boat. They're really easy to use and really fun. Like it was mentioned earlier, if a fish is coming at you, reel! You will definitely realize your forearms aren't as in shape as you thought. But they are a hoot when a fish stops the reel and just rips the pegs from your fingers.

From what I have read, shimano and Daiwa mooching reels are basically the same thing. Some people say the drag is better with shimano, but I haven't noticed any issues with my reels. The drag on my M-One reels are very smooth and hold line really well when trolling (no creaping). I personally think islander reels are a work of art. They're awesome looking. But a mooching reel is a single action wheel that holds line. You don't NEED to spend $600 unless that money's burning a hole in your pocket.

Size wise, I like the larger capacity. Personal preference really. I like the thought of trimming a 100 ft of line every season and knowing I have a few hundred yards to go.

I run the shimano convergence rods. I love the medium heavy class. They work well for downrigging. The one thing I would suggest is, think about the size of your boat. I think for my boat the 10.5ft rods are a little long. I seem to always be dealing with rod tip wrapping. But then again, I think I have a line twist issue and I need to sacrifice some line to freshen it up. Plus the lifetime warranty is piece of mind.

Hope that helps.