G'day,
I've got a 7ft sic stic in the 1 - 3kg range and find it a great rod. Have caught trevs, bream and flatties so it hasn't been given a tough workout, but it has handled all fish to date well and is comfortable to use.
I got mine for $100 so you sound like you've scored a good deal. Are you sure you don't want to splurge on a schmick reel? Go on, you know you want to...Daiwa caldia kix, capricorn are nice reels around $200- 250.