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The Orvis will bite deeper into a budget-minded start. On the other hand, it
will last a long, long time with minimal care. I had a Midge 7'6", which I
fished hard for over thirty years before finally replacing it with another.
When I got it in 1966, Orvis had a monthly installment payment plan, so I
could also manage a Hardy Princess reel for it. Now we think--I can't imagine
why--a credit card is the best way to "defer" payments. The Midge and the
Battenkill 7'6" rods are still around in abundance, but you have to search to beat
an $800 or so price tag on one in excellent condition. The classifieds on the Forum
often turn up bargain classics as Drew (ted golden) has pointed out, and I have
found sellers here very trustworthy.

The rod you just got, a South Bend 290, is a very sound starting-out rod. But any
rod acquired through auction could well need some refurbishing--and it isn't that hard
to do. Michael Sinclair"s Bamboo Rod Restoration Handbook (1994) is still the
best around on the subject and treats all the good old production rods. It is relatively
easy to do rewraps, ferrule bluing, grip and reelseat replacements, and varnish jobs (no
dip tube necessary, just a steady hand with a small foam brush and a can of Ace
Hardware spar varnish, economical and excellent). Follow up with some Meguiar's or
a gun-stock polish, and you'll have a very handsome rod. Cork grips, sporting the crud
of the ages, will come clean surprisingly easily with a little rubbing alcohol followed by a
light coat of Birkenstock Cork Life to make them more ridge resistant).

I've owned the SB 290, by the way, and it was more than adequate on both small and fairly
large streams, for instance on the Green River below Flaming Gorge. My only beef with the rod
was that SB stinted too much on the number of snake guides. It would benefit from one more. I
was about to redo the guides and wraps with an addition, but then sold the rod. It's fairly easy also
to pick up an H-I Tonka Queen in reasonably good condition, one with two tips, for under
$350. A little spit and polish, and you end up with a 7'9" 5 wt, which fishes well on just about
any sort of water, barring brawny steelhead or salmon rivers of course. One caveat: Until you
get really good at it, leave the restoration of more expensive rods to expert rodmakers. It's on the
bargain rods you should be able to become proficient yourself. On the crown jewels you'll
eventually start acquiring, trust only the professionals.

One last point. You've stated a preference for smaller 4- or 5-wt rods. And they are certainly the
bread-and-butter for contemporary rodmakers and fun to fish. They weren't, however, the mainstay
for the classic production rodmakers, who produced many more 8-, 8-1/2-, and 9-footers. If you
give it a little practice, you'll be suprised how versatile a good, very reasonably priced 6-wt rod is.
The 8-1/2' Phillipson Peerless Dry Fly Special, a 6-wt impregnated beauty, will do nearly anything you'd
want a good fly rod to do. It's a pleasure, not at all wearisome, to fish. John Gierach is especially
knowledgeable about the longer classics, which he loves. See his Fishing Bamboo.

This may have been more than you wanted or can swallow at one gulp. Sorry about that.

From about 1942 into the early 50's.

And Canewrap is right. My 290 behaved best with a 6-wt line. I also remember searching
through 3 different Tonka Queens until I found the 5-wt I wanted, the other two clearly favoring
6-wt lines. As to reel choice, the Hardy LRH is an excellent reel in a nice size and would spool either
a 5- or 6-wt line. Another very sturdy reel--inexpensive now as in its heydey--is the Ocean City76,
which has a line guard that can easily be repositioned to go either LHW or RHW. The old reliable
Medalist is always a good choice. Because your SB 290 came with one tip down several inches and
without bag or tube, the price was about right. I hope it serves you well. Keep us posted on how
everything turns out.