Jack of all trade rod and reel?

Penn 500 jigmaster. Quick change spools, easy to maintain. New they are about $50. You can up grade the drags to carbon x but don't need to. I run 65lb braid with a 100yrd top shot of 25lb mono. The mono get changed out quite often but the backing is a few years old now. I have a Shimano Cardiff 400 too, I've landed some big mud marlins on it. A good chioce for $100 reel. If you can cast a jigmaster you can cast just about anything

I have a Penn 113H lefty that I use when chasing pac hali.
Otherwise I have a couple of Peen 321GTIs. I love 'em.

would the penn 500 jigmaster be good for trolling for king salmon?

If you are not a penn guy I swear by my Abu 6500 with braid good for all the species you mentioned and wsb

For an all around rod for saltwater (swimbaits, live bait, diamond jigs, whatever) I like my St. Croix Tidemaster Inshore casting rod. It's an 8', heavy, fast action rod with lots of backbone for pulling fish out of kelp. I pair it with a Shimano Cardiff 401 (I fish lefty).

Trevala + Diawa Sealine(upgraded to carbon drag washers) + 40lb. braid = bomb proof and light.

Ugly Stik Tiger medium light with a Penn 320GTi. 40lb Power Pro w/30lb leader. The GTi is the older American made Penn. GT2 is not American made. 321 if you like left hand.

I caught my avatar fish with an old Penn 10 reel.  That reel has caught all of your target species and is bulletproof.  For rods the ugly stick is good by I like the shimano trevala rods.

If you are on a budget, this is stout enough to do salmon trolling, light enough for live bait fishing.

Penn 500L jigmaster & Penn 17-40lb 7' rod combo.

http://www.westmarine.com/webapp/wcs/stores/servlet/ProductDisplay?productId=429840&catalogId=10001&langId=-1&storeId=11151&storeNum=50842&subdeptNum=50858&classNum=50860#.T_NNJPUkJ8E

penn gti 320/321... awesome reel.  321=lefty.  Can't really go wrong with the ugly stiks either. 

Going to get a Ugly Stick Tiger rod today. For jigging rock fish, salmon, and maybe tuna. Is once piece better, how long should I get? and Medium, Light or Heavy Action? I have an older Penn real that has taken quite a beating but is in great shape still.

Going to get a Ugly Stick Tiger rod today. For jigging rock fish, salmon, and maybe tuna. Is once piece better, how long should I get? and Medium, Light or Heavy Action? I have an older Penn real that has taken quite a beating but is in great shape still.

StephL look for the two piece rated up to 50lbs if you want something that can handle RF-Tuna. Good tip, strong backbone, damn near indestructible. Its the 7 footer. Can't remember a model name..sorry 
If you want to go lighter, the 8 footer that is rated up to 30lbs is also a good rod.

Ugly stik and I like my Shimano TLD 15.  The lever drag is perfect for kayaks.  60# braid.  This was the reel that Jim Sammons recommended (when he was a Shimano sponsored guy) for use in Mexico.  It can handle big and small alike.  It has a very smooth drag too.

I prefer the medium light. It just handled that 21lb Salmon no problem. Also almost landed a huge PAC Hali last year till my leader snapped. It has a nice light tip for bite detection, and a strong backbone for bigger fish. I also have a medium that I take with me and never use.

The TLD 15's are GREAT reels and make a good all-round reel.  I like the Shimano Charter Special 1000 & 2000 if you can find them.  They are the small cousin of the TLD's; Graphite, Lever Drag BUT they have level wind and are a smaller frame size (similar to a lake trolling trout reel or round body bass reel; just a little wider.  Wish I had a few more of these reels!