The Watershed reel looks to be made by Ross Reels USA: basically a lighter
version of their recently discontinued Rhythm reel. I've never used Rio Grand,
but lots of people like it. The rod may be a tad stiff, however. You can get
the same reel and line combo with the Sage Flight for $450: CLICK HERE
The Flight is supposed
to be nearly the same rod as the Z-Axis, and I've fished the Z-Axis in 9' 5wt.
VERY nice rod, and repsonsive tip section. Unlike some other "fast" action
rods, the Z-Axis casts the line it's supposed to very nicely, without needing
to overline, or get 60' of line out before it comes to life, etc.
: A forum member recently cast a Z-Axis and Sage Flight together, and posted his impressions here: CLICK HERE
You have to scroll down to about the 7th-8th post.