Well, at least I know I narrowed it down to two good choices on the reel. Mainly using this combo for casting jigs and small cranks in my pond...have had med light rods not give me the casting distance but I see the argument for it. Was really eyeing the st croix panfish 7' light action, but should I go med light? Was hoping to have a one peice but willing to look at others.
Shimano reel is my hands down favorite...the Sedona is an entry level reel that will last a long time (I have one that is over a decade old), the pflueger is a decent reel that will usually not last as long. The reason to go with Shimano is that they cut (make) their own gears to tighter tolerances, whereas most other reel manufacturers don't.
I know this rod is not in your question...but you might want to give a look to the Bonehead 7 ft or 8 ft light action rods. The 7 ft is a one piece fast action rod and the 8 ft is a two piece fast action rod. They have tons of backbone so you can hog fish should you need to. If you have ever fished with one you will not be interested the other rods you mentioned. They will set you back $100 per rod, but the value is that they compare to the higher end custom rods. If you like good rods you owe it to yourself to try them. I did, and I now own around a dozen of them from 5.8 ft to 10 ft. I know it sounds crazy (might be), but when I get dialed in (focused) on a bite, I can feel the crappie open their mouth prior to biting my jig.
Now my opinion, based on your question...Get an 8 ft bonehead light action, put a Shimano Stradic 1000 series on it, spool it up with your favorite line, then you will have spent about the same money as the St Croix and whatever reel you decided on. Hope this information helps.