If, iF, IF, IF
,this rig is to be used to target sailfish as in original post, and maybe trolling for tuna at the GOM floaters, then my suggestion would be to sell the reel. Even at a small loss. You can buy a good smaller 2speed reel, a bunch of lighter # braid and mono and a bunch of trolling stuff for what you get for the 50, if you have a little patience when selling.
Buy a 25 or more likely a 30 class metal based 2 speed reel. Not a graphite framed reel like the TLD's. Spool with the 120 braid and run 80 lb mono, maybe 100 lb at most.
Avet makes smaller 2speed than the 50 you have, Penn, Shimano, Okuma (don't know how good they'll be), Daiwa, & others all make super solid metal spool & framed 2 speeds in the 30 class size.
My TLD 20 2 speed holds right at 300 80 JB hollow core and about 100 yard topshot of 50#. A 30 sized reel will hold a lot of line, especially with a fair amount of braid under. Personally I'd stick 80-120 braid on a 25/30 class reel and top with 80 topshot at most on that 80 class rod and would willingly pick a fight with anything out in the GOM.
Tangle with a spawning bluefin or 800lb marlin and get spooled? So be it, got whupped but you'd have messed with the .01% of the fish in the GOM the 30 class reel & 80# rod couldn't handle when trolling. (Sharks not included)
That 50 is just over kill if not targeting large marlin; blues in the GOM, Blacks in the Pacific, maybe the 300-400 YFT & the giant bluefins. I think you & Tiff will find the 50 will be real bulky when trolling especially without a chair, and that reel really goes with a 130+ class rod, IMO.
Again, my opinion only, drop down to a 30 class metal reel on that 80# rod, spool it with 80/maybe 100 or 120 lb braid and 80 mono, sell the 50 and you can gunsling with just about anything you come across out in the GOM.
Good luck however you do it.
I would hear what your recommended setup is Willie. I had planned on putting a little less than half the spool with braid then as much mono as the reel will take.
My needs right now are for this one rig which Tiffany and I will share trolling. We still like to cast and jig tuna the most.