More info needed really, lots of great suggestions...tailor those suggestions to what type of fishing are you expecting. High alpine lakes (cheap 4wt rod/reel and some quality line), bigger river such as the Eagle down by the flattops (cheap 5wt rod/reel and some quality line) reels are dealers choice, honestly, you don't cast with it, so as long as it cranks, its good enough. If fishing 2-3' wide creeks for 6" brookies, agree with the willow stick or a cheap tenkara...I'd feel a tad rediculous fishing a 2ft wide creek with an actual rod/reel.
TFO makes great quality rods for the money, and for a budget reel, look at a bottom of the line Lampson or Redington maybe.
I use a Redington vice 4pc 6 weight fly rod. If you don't run a spotter just stuff the case in the side pocket. It's light enough that you won't notice it.
I have a dragontail tenkara Shadowfire that I got for like $80 on Amazon. It works very well for the price and I pretty much never go anywhere without it. It stays in my pack until I'm filtering or boiling water, killing time in the middle of the day, or waiting on buddies to pull up to the trailhead. I bring a tiny box about the size of a credit card with a mix of Euro-style nymphs/streamers (that way I can piss off the guys who hate tenkara AND the guys who hate euro nymphing) as well as traditional small dries and soft hackles. The whole setup weighs a few ounces and works for bass and bream in the Southeast or trout out West- I find that the sort of streams hunters come across usually hold pretty stupid fish that are easy to catch.