I'm going to recommend a combo that may be out of your price range, but just to give you something different to consider:
A very smooth baitcaster (e.g. Shimano Chronarch or similar -- 6 ball bearings) offers you the major advantage of being able to free spool line under thumb control for instant hooksets when that float goes under downstream. And of course the drag is going to be better (and the line twist nil vs. a spinning reel).
A GL3 1263 (10 1/2' and 6-12' line) is a great float rod and good all around drift rod if you're fishing bigger water and need to cast farther and/ or keep more line out of the water. Travis Howard/ Tom Howard at TH Custom Rods (
www.thcustomrods.com; E:
thcustomrods@harborside.com) built this for me, and it's indistinguishable from the factory rod -- except for the price!
I know there are plenty of less expensive alternatives that will do a good job, but if the rod has a warranty it's an investment, not an expense. The reel will eventually wear out but fishing jigs and floats with a smooth baitcaster is going to put more fish on the bank than the alternative methods (unless you fish low, clear water with 1/8 oz jigs and no lead on the line).
My 3 cents.