There's definitely some decent equipment in that price range. I'd go with a 5 weight 9 foot rod. That will work well for the local bass, plus for trout out west.
A couple of manufacturers to check out are:
1) St Croix
2) TFO (Temple Fork Outfitters)
3) Bass Pro Shops (normally I wouldn't recommend them since most people don't have a store close, their equipment is good quality.)
See if there's any local fly shops in your area too and go there and try out a few rods. You're likely to get much better advice than at BPS.
Are you looking to spend $150-200 on just the rod and reel? Or on flies, tippet, nippers, etc?
My passion for catching fish is eclipsed only by the fish's passion not to be caught.