Assuming you're not a trophy hunter, or going after great lakes stuff, you are largely correct.
The biggest thing to think about with the reel is how it balances the rod. A reel that is too heavy or light for the rod will throw the rod's action off. For instance, one of the reasons for the interest in Medalists has to do with the renewed interest in glass and bamboo rods. Those heavier rods don't do well with modern reels, which are made for graphite sticks. Likewise, those heavier reels may not do well with a light graphite rod.
When you set up the rod you want to buy, strip the line through the guides and let it hang, like you were ready to fish. Rest it on your pointer finger and find the balance point. Rod should balance near where you grip the rod, in an ideal world I'd have it right where my pointer finger wraps the grip. If its ahead of the grip, the reel isn't heavy enough. If its near the back of the grip, the reel is too heavy.
The ability to test stuff like this is one reason why local shops are much better than the big box stores for buying equipment like this. But you can often balance most rod without spending an arm and a leg for all kinds of extras like a silky smooth drag. Most models have several sizes for different line weights. Don't be afraid to go up or down a size as needed. The only problem is that if you use, for instance, a 2/3 wt. reel with a 5 wt line, it won't fit all of the line with an appropriate amount of backing. I just cut some off the back, I never cast a whole line anyway!
