if starting from scratch, and on a budget i would start with:
yoyo rod : probably the most important, this setup should get most use. use it to throw surface irons, crocs, swimsbaits, and of course dropping heavy irons.
rod - anything 6.5 to 7ft 30-50lb rod, the lighter weight the better
reel - hi-speed 6:1 reels such as the sealine 40, penn545 (no 500's), shimano speedmaster, or the more expensive torium, saltist exc....(i've been seeing the penn 545,535's on ebay selling for like $40-50, which is a killer deal and they are all easy to rebuild)
line - 40lb mono
Bait rod : used for fishing live bait, trolling, fishing the kelp.
rod - 6-7ft, 20-50lb rating
reel - i really like 4:1 leverdrag reels for this application, shimano TLD15.
line - #65 powerpro spectra and use short leaders of 20-40lb flouro connected via barrel swivel
Sabiki - any cheap rod and reel you have laying around will work, later on you will probably upgrade your yoyo setup and use the old yoyo setup as your sabiki. Then you can start using a "super sabiki" which is just a 30 or 50lb mainline sabiki with a j-hook iron (or knife jig) tied to the end instead of a torpedo sinker
Later on once you get a feel for what rods and reels you like, you will probably add a few more bait setups, and a jigstick for plugs.
Irons, specra, flouro, and new reels can get pretty pricey, if you are in san diego stop by squidco, they have all that stuff on the cheap, and usually have great sales. quality seeker, calstar, exc... rods are way out of my price range new but you can get them super cheap used, john(fishaholic) and a few others have tons of quality stuff right now.
Now get out there and fish!! We can't wait to see your first big fish post
