You might look into a different charter boat. Most private charters out of Port A have pretty good light tackle for their 8 hour inshore trips. I've seen a few that use Accurate Boss reels for kings, ling and snapper which is probably what they will target on your trip.

If I had to choose one reel for that type of fishing that wouldn't break the bank it would be a Shimano Calcutta 700. Load it with 30# Momoi diamond mono and your ready for anything up to 40 miles offshore during the summer months.

As far as a rod, (since you don't fish the gulf very often) the ugly sticks are a great buy for the money. Just buy a 7' rod rated for up to 30# test. Don't go any heavier on the rod. A 30# stick is all you need as you won't need more than 10#s of drag for what you will be catching.

That's pretty much what I was thinking from the beginning....;)

You can spend lots of money for this sort of tackle. I caught quite a few kings, lings, and snapper last year for Penn combos and large Spheros spinners.

Here is your best bet for "Budget" tackle This will last you a long time and you can use it inshore or offshore. Avaliable at Basspro Shops.

Shimano Baitrunner 6000D 320yrd 80# Braid 169.99
Shakespeare� Ugly Stik� Big Water Spinning Rods 7' 15-40#(38-133-657-00) 54.99
80# PowerPro Braid 300 yards

Lots of great suggestions here but try this: Shimano TLD Star 20/40 or 15/30 on a 200g to 400g jigging rod of your choice. I like the Hopper blanks and have been building quite a few lately but I have also fished a Shimano Trevala and like it. Spool up with some 40 lb mono or 65 lb braid and go get em. This setup should come in at about $200 and will handle a variety of species. It will also be VERY lightweight compared to Senators on solid glass broomsticks! It sounds like you are doing the typical Snapper, King, Ling, etc. charter and this should be PLENTY for this type of fishing. The TLD Star has very stout gears, good drag and a much better anti reverse than the more expensive Toriums. IMHO, it is one of the best kept secrets in offshore reels.

I know these rods/reels may not be as desirable as some high end stuff mentioned but should be able to get the job done very well.

I don't even have to look up the actual specs and can tell you right now, that the baitrunner 6000D CAN NOT spool 320yds of 80lb braid.

Braid capacity for Baitrunner 6000D: 30/245, 50/210, 65/130

shimano 6000 capacity <= daiwa 4000
and daiwa 4000 size is meant for inshore

I have several Daiwa Sealines 40 and 50's. great reels in my opinion. I also had the saltist and like that one as well. Been using them for 2 years plus and usually take the boat out every other weekend in the summer months.