The XS 101 MS (same as the 10 but one piece) is my favorite all purpose stick. I've done everything with it from rock hoppin in Montauk to tossing 5 oz and a clam at Sandy Hook.
If you could only own one rod IMHO this would be it.
It casts very well but it's best point is its fish fighting ability. When you're perched on a rock at M with 50 guys around you, you have to be able to put the screws to a fish and bring him under control quickly before 10 other guys are tangled on your line. This rod can do that.
Reels, I'm not a big Shimano fan, at least not their spinning reels, so I'm not the right guy to be asking. If it were up to me, I'd put a Penn 706 on it for plugging and a baitrunner on it (something else I don't know much about) for weight n baitin. Even better, I'd have the rod custom built new concept dual purpose (spinning and conventional use) and use an Abu 7000 c3 for chucking bait and the 706 for plugging. Or, I'd say screw the spinning gear, get the convential version of the rod and put a Shimano Calcutta 400 Te on it, perfect for plugging and slingin meat.
If I could only choose one reel spinning for both uses it would be a Penn 704 with the bailwire attached but with the modification that removes the springs so you can flip the bail by hand, makes it more braid friendly then cranking the bail over.
"I just wanta play everyday despite small nagging injuries --
and go home to a woman who appreciates how full of crap I truly am"..... Crash Davis