Being a relatively new steelheader, if you are going to spend your money somewhere, spend it on the rod opposed to the reel. Don't get me wrong, I love my AngSpec, but I could get away with using my $200 Streamside and land the same amount of fish as I could on the high priced workhorse.
Also Dr.S is right, save some $$$ for floats, terminal tackle, leader, etc etc. Those things add up real fast...
From what I've heard the new St.Croix rods are really good bang for the buck, might wanna check them out.
Also, buy used.. You can save a tonne of $$$.