My 2cents... I'm NO EXPERT, but I went through this last year. I tried a friend's fly rod and got a 2 minute lesson. I liked it but really didn't like how bouncy & slow his rod was. So, I went to Bass Pro and talked to a guy about a starter rod. I tried out three, selecting a Temple Fork Outfitters rod, which has a lifetime warranty (which I've already had to use!). It's much stiffer than the one I originally tried out. The rod cost $150, but they had a combo deal where I got a White River reel for free (there are combo deals offered with most rods). In total, I got the rod, line, leaders, and some bluegill flies for a little over $200. I certainly could have gotten a kit for considerably less, but I had learned the basics about how to cast and had practiced enough (half an hour total) to know a little about what I wanted in a rod. I've been happy with my choices, especially when TFO replaced my broken tip no questions asked for $25.

Also, unless you're planning to fish small, overgrown streams or big, windy water for large fish like stripers, 9-feet is the standard. 5 or 6 weight rods are considered the most versatile, and I've caught many bass on my 6-wt. That said, I won't be jerking a big hog out of the stumps with my 6-wt, mainly because a 6-wt is most commonly rigged with 6lb test leader. Also, the main function of the reel is to hold line. If looking to cut costs, get a better rod and better line but a cheap reel.

Last thing, you won't believe how fun it is to catch a mess of bluegills on topwater poppers with a fly rod.