Frenchy...I bought my silex reel used....keep your eyes on the paper, ebay, buy sell etc, etc...I bought it from a guy in his late 40's whose father had passed away, and he wanted someone to have it who actually fished and was passionate about it...$ 200 bucks, excellent condition...well, it isn't anymore, I've beaten it up quite a bit, but it runs true....
After that 200 dollar expense, I bought a sage 3113 lb blank for another 175 $ or something like that...and then had it custom built for through a local guy that runs a pretty good gig now, but was just getting started back then...I think that cost another 200 or so but can't quite remember...Check it out, you might find something good used somewhere reel wise and save some money,....
But beware the warped reel...make sure the reel spins true with no warble...a rod and reel now new like that would be running closer to 1000+ total after taxes...
someone here might have some blanks available...
Your looking for the best deal you can get, so it doesn't matter which you buy first, the reel or the rod...you buy the one you get at the great price first. Another idea would be to sink your cash into a great reel, and then convert your current rod so it has a floating reel seat...this way you can fish the centerpin some days and your baitcaster on others...depending how you feel...then you can wait to buy the higher quality rod at a later date, when you have the cash...