there has been some advice on the 'ideal mooching' set-up. so i'll throw in my two bits for what it's worth. all the previous advice are good but not neccesarily right for every individual. i'm not gonna suggest anything particular, but just give my views and opinions on different products or brands.
there are low, mid & hi end rods. there are low & hi end single action 'mooching' reels.
most people like playing fish with a parabolic bend in the rod (evenly bent throughout the rod) - usually a moderate action. for mooching most rods are slow to moderate in action (softer). this will absorb any jerking motion from waves (you buzz bombs... not cut plugs). for downriggers, moderate to fast rods are more common (stiffer). when fish release from the rigger they are no longer biting anymore so the quicker can reel and set the hook the better your odds are sticking the fish - stiffer rod equals positive connection. i personally perfer moderate action, which will allow me to load up the road on the rigger better. it also visually looks fishier. moderate action also doubles for mooching. the action of a rod also helps anglers that are a little more challenged with single action type reels. a longer spongy rod will give time for a person to react to letting a fish run (or let go of the handles) reducing shot-guns and knuckle dusting.
reels that have a one way system (increasing drag also increases drag on retrieve) are fun and give personal satisfaction when playing fish, but you need to have a reasonablygood at using a single action reel. two way reels (retrieve stays easy when drag is increased) are good for people that are challenged with single action reels. example - anglers with weaker arms can hold onto the rod with both hands while still maintaining good pressure on fish. also minimizes back lashes when loading up rod and then suddenly deciding to release handles.
using one way reels (hardy longstones, diawa 175 & 275, etc...) under certain fishing conditions can be difficult. i would not like to rely on my palm as a drag when yanking on 20 lb springs all day. they are not ideal for downriggers (tight drag from setup sucks when trying retrieve slack line from a pop-off). these types of reels are also not as accessible anymore. two way reels (diawa m-two, shimano 2000 & 4000, islander mr2 & mr3) are most versatile for most single action skill levels and most versatile for mooching or downrigging. cork type drags are the smoothest, but require more maitenance to stay smooth. money aside, the mr2 'mooching' reel is maybe not the best bang for the buck (not mass produced, thus the high price), but is the best and most versatile single action moocher out there. the mr3 has a large spool for quicker pick-up and a large arbor so you don't have to load up as much unused line. it also has larger cork drag (dissapates heat better keep drag smoother while fighting fish). holes drilled on back side to lighten weight of reel will also salt water easier access to was out oils on cork drag - more maitenance to keep smooth. there is no free spool option for dropping to the bottom or when letting line down on the rigger to minimize wear on the cork. in this case i think the more expensive reels (islander, tfo, etc... ) are the better reels. if you can afford it, why not? the shimano and diawa reels are a good second option if price is a factor. high price is not always the better product. i think in this case it is.
shimano, daiwa, shakespear (uglystik), etc... make durable good boat rods for low to mid range prices. they are also reasonable with warrenties. good bang for the buck. custom built rods are great. they a personal affect, but how much are you gonna cutomizes it? different colour wraps? longer or shorter handles? chances are factory rod have already set good standards for the layout of a rod. usually if you break a custom built rod (accidents happen), the blank may be lifetime but rebuilding it isn't. if it is the bottom half, only the guides and reel seet are savageable (someone has too strip them off the original). the cork material can average about $60 alone. then it must be bored assembled and shaped. if you can afford it, why not? it'll be exactly what you want. want high end without hassels. then try sage or gloomis factory rods. some of these manufactuers will replace tops and/or bottoms for free or a small charge (about $30/tip and $60/bottom).
best is not always the most expensive, but if it is and you can afford it, why not? i always look at the best first, then decide what i can afford, then decide the best i can afford. the way i see it... when you're catching fish, you may not notice the difficiencies of your equipment. so why wouldn't want enjoy your equipment when not catching fish as much as when you are? good equipment is not a waste of money if you enjoy it whether it's $40 or $500. spend alot of money on any boat, then spend the adequate money outfitting properly. I see alot of save for a boat and cheap out on outfitting. ie cheap or not enough equipment (one down rigger & one rod) all that money on gas & boat and they don't mazimize the enjoyment!
these are just my views, not neccessarily right! please excuse any typos