For an allround rod at the lighter end and to save on the cost by not using rings look at the Shimano Beastmaster "inline" ranges.
There are a number of the range and they roughly translate as:
100 = 6/12lb class
150 = 12lb class
200 = 20lb class
250 = 25lb class
Excellent basic rods with stunnng actions due to the lack of rings.
They'll set you back around £60 to £70.
I own and use all but the 250. The 200 is my mainstay Conger rod and has taken some large lumps to the higher end of double figures (80lb +)
Add rings to them and you then step up to the price of the Shimano Speedmasters.
These are around the £100 mark and have lovely actions with a choice of longer or shorter to suit your own requirements. Most of my fishing is over wrecks on the drift and so the 6/12lb class at 8'6" (I think) is my first choice for "Gilling" and will take 10oz of lead if it needs to. They also do a 12/20 and a 20/30.
Within your price range the Shimano Torium is unbeatable.
The come in 16, 20 & 30 models.
They are quite large for their size (if that makes sense) the 16 is a big 7000 size and more than capable of handling some big beasties. I have mine loaded with braid (I have all three) and they are lovely to use.
Hunt around and you'll find them at just over the £100 mark. For the money absolutely nothing touches them (spend 2.5 times and you will get better but not at that price).
Assuming you have bought the inline rod (the link below is of a conger hooked on an inline 200 and Torium 20) and Torium reel you will now be on about £180 spend leaving you about enough to get your self a spool of good Penn Dynabraid complete with the free backing it comes with!
http://www.pbsbac.co.uk/photoalbum/displayimage.php?pos=-498
Put just a bit more on the total budget (£50 or so) and you will be in the price range for a beautiful custom built rod from Stan M (Forum contributor). Stan M is Alba rods. He'll take your exacting instructions and produce a stunning rod just for you using the very best Conoflex blanks and highest quality fittings.
His custom UK spec boat rods are arond the £130 mark. Visit his site for a basic tour, but this doesn't show everything.
http://www.alba-rods.co.uk
PM or email him and I ams ure he will call you for a chat about your requirements.
Tom