My hierarchy of gear:
1) bait,lure,fly- for obvious reasons
2) line/terminal tackle- the only thing between you and the fish
3) a good set of polarized sunglasses
4) fishing rod
5) reel (* exception, a good baitcaster, if you use one, is more important to me than the rod)
I would trade my $300 fly rod for a curtain rod and a length of clothes line, give me a quality set of polarized optics and I will out fish anyone without 4 to 1, no question. Costa's are nice, but even the $40 bass pro knock-offs with the correct color lens (yellow/amber) will improve your success.
Anyone who fishes for trout already knows this, and trolling doesn't count.

