No worries.
Unfortunately, there is no such thing as an all round general purpose set up.
You want something delicate enough for small fish, but robust enough for the odd passing shark...Even a small shark of say, 2 foot, will give you some fun and put your gear to the test.
There is really no way around it...You need at least 2 rod and reel set up's. One for the small stuff and one the bigger fish.
If I may make a suggestion...Get your self a set up for the smaller stuff first. Then you can save for a bigger rig. Keep an eye on garage sales (you might call them yard sales), deceased estates and even auctions. A year ago I picked up over $600 worth of brand new, still in sealed boxes, tackle and two reels for $50, from a deceased estate.
Forget the braid...Braid has it's place but it only has a couple of advantages over mono. There is cheap braid and then there is braid that will actually work :). You will not spool even a cheap reel with good quality braid for under $100 (including the price of the reel).
Mono is the way to go...but once again there is mono and there is mono that actually works !! As a general rule look for "made in Japan". Avoid the cheaper mono lines, they will just give you trouble and heart ache and will say "made in China".
Back to your original question...Now that I know what sort of fishing you are after, I think I know a reel that just might fit the bill.
http://www.shimanofish.com.au/products/fishing-reels/spinning/ix-r.html
They only come in 2 sizes. The 2000 or the 4000. You might know it as 20 and 40. No bearings (brilliant) all brass bushes. Graphite body and spool. Stainless screws... Great little reel and in fact I have 2, 4000 and 1, 2000. I would suggest the 4000 since it has 7kg (15 pound) drag which is enough to slow down a 2 foot shark...but your skill will have to do the rest :) You probably wont load it with 15 lb. line anyway, but if you wanted to push the drag to the limit you could !
What rod are you planning on putting this reel on ?
