So does that "S" action indicate stiff or soft? At first glance, I don't care for the handles, but that can be overcome with good balance and a lot of backbone/fast action tip...and durability...
S stands for Slow flex. if you go to this link http://falconrods.com/original.html
and click on the Flex Ratings tab on right side of the page about half way down, it will open a graphic that shows their different flex ratings from Slow to Extra Fast
Fast is stiffer and the bend starts to straighten out close to the tip.
Slow is softer and the bend is more gradual and covers more distance toward the butt before it straightens out.
edit> A slow flex can still have plenty of backbone to handle a fish but will be softer in the way that it bends.
It is a comparative thing within a particular brand/series of rods and not all 'slow' flex rods will be the same in where they bend. Generally speaking, slow will bend over a longer distance of the rod.