Judging by the fly selection he was after everything, I'm not sure about the quality of the reel but it may need to be replaced, definitely replace the line and tippets. With that weight you should be able to take on anything, just not the really strong things like salmon or musky. Also be sure to carefully check the rod for any defects (hairline cracks, thread unspooling, etc...) if you find any you may want to reconsider using it for the same things, you could probably still use it for small trout and panfish if you find any defects, just be careful with it.
P.S. If you have to replace anything instead of trashing it you may want to look up it's value online, some of that stuff is pretty collectible.