kaster, i am very new to fly fishing as well. i started out last spring and only mannaged to get out 2 or 3 times. I fished for brook trout and i was able to pick up a nice combo setup at Walmart for like 50$. its a fenwick 8.5 ', 7 - 8 wieght rod with the reel and it was set up with backing line and leader ready to go. I was out for the first time on saturday for atlantic Salmon, and it even handled the larger salmon quite well. I would guess if you are like me, and you are just starting out that would work just fine and it may save you few bucks. Then down the road maybe next year if you really get into fly fishing like i am, you wont mind spending a couple hundred dollars on a nice setup because you all ready know its something you will not regret buying. good luck which ever direction you choose.
oh yeh, and welcome to the site.
be gentle on the hook set, i am a newbie to fly fishing