For under $200 total? Pfleuger President reel. A good, dependable mid range reel. Not overly expensive $70ish. I"ve put mine through a lot of abuse in 2 years.
As for the rod, if you are fishing walleye more than bass, lighter is better. I use a 5' light or ultralite for walleye. For bass It all depends on the style of fishing. Do you need a finesse rod or a tow truck and 50lb. cable? All I can suggest is find a rod that feels comfortable in your hand and has good sensitivity. There are a lot of good rods out there, and a lot of people have deep brand loyalties.