I ain't no expert at salt water fly fishin', but from what I've been told, a problem with some of the large arbor reels is that you can't get enough backing on them for open ocean salmon fishing. Also, you gotta make sure that Loop reel is anodized. I was told to just get one of those disposable, cheap-ass dragon fly reels for 40 bucks or so and to save my okuma helios for freshwater. I can't help you with line selection, but I would think a high-grain full-sink would be in order. I fooled with a sink tip last year and it just didn't get the job done.
DThere are so many variables involved that without knowing the average depth of the area you will be targeting or the degree of influence the tidal flow has on the area on any given tide, it is a learning curve. Hire a guide that specializes in open water flyfishing if you can afford it even if it is only for a half day or so. The information that you can glean from the experts can knock years off your learning curve. Regardless if you are targeting fish to 20 plus lbs. you might be able to hook and land fish with a 7 or 8 weight rod, but if you wan't to chuck a line with any appreciable distance or accuracy( 500-750 grain shooting head-25 foot tip, for instance) anything less than a 9 or 10 weight ( with the exception of high end rods in the 1000-$1400.00 bracket) will make it feel like you are casting a refrigerator. If you are fishing with weighted flys such as clouser patterns, then it is even more important. For leader I like to start with a butt section of 20-25lb Maxima ultra-green of about 3ft followed by a 2ft section of the same in 15lb and a 6 or seven ft tippet of 12lb flourocarbon or ultra-green, depending on depth, light conditions, and water clarity. I hope I was of some help. Good luck and get some finger protectors !! Chalupainsdale