Steve,
I agree with Adam (Lape0019), The 804CB is probably a better all around (medium to deep cranks) than the 805CB RM.
I have an 805CB RM and I have tried it for medium square bill cranks and it works OK but it excels for deep cranking.
I use a 764CB RM for medium diving cranks.
The 804CB being (8-17lb, 1/4-1oz, Medium/Mod Fast ) will work better (IMHO) for the medium diving cranks than the 805CB RM which is (10-20lb, 3/8-1 1/2oz, Med/Hvy Mod/Fast).
As for the umbrella rigs, talk to Ed. He was out with Gary Dobyns and I do believe they were throwing the umbrella rigs. I can't remember what rod they were using.