OK, I'll throw my two cents in on this one.
First I have to say that I don't do any trolling, so I have absolutely no advice for you there. I know a lot of these guys on this site, like Capt. Joe, do it and are very good at it. So pay attention to what they have to say.
My thing is jigging. I love to jig and I'm as happy as a clam whenever I can get out there and just chuck and wind all day!
I agree with those here that say that it would be very difficult to make one set-up work effectively for both jigging and trolling. You could probably find a compromise that would work for both. But my guess is you would find that it isn't the greatest set-up for either technique and you'll soon be looking to pick up another one anyway. My advice would be to get
two set-ups. If you can't afford to get two right now, pick the one you think you will be using the most and buy that one now. Then when you're ready you can get the other.
As far as jigging rods, there has been a ton of great new stuff coming out lately. Since Shimano's introduction of their Trevala series rods (which were designed for their Butterfly Jigging System) there have been a bunch of manufacturers coming out with similar type rods. Just this year Penn, Daiwa, and Okuma have all come out with their own lines of vertical jig sticks. See my article on some of the new stuff out at
http://njsaltwaterfisherman.com/forums/index.php?topic=6190.0. Just make sure you download the PDF.
I have a Trevala and it is really a joy to use. It's very thin and light, yet it is deceptively strong. The parabolic action is terrific and I prefer it to my other "fast" action rods that I've used for jigging over the years.
For reels I have used a bunch of them (both spinning and conventional). The one I really like now is a Shimano Torium 16. It is a perfect size for jigging stripers. I have it loaded with 50# braid. It has a super fast 6.2:1 retrieve ratio! But it doesn't sacrifice its power for speed; thanks to it's oversized gearing. Or what Shimano calls H.E.G. (High Efficiency Gearing). If you have a few more dollars to spend you can trade up to a Trinidad 16N.
I know that for years now conventional has been considered the only way to go for serious jigging. That has all changed in the last few years. There are now many serious jiggers using spinning tackle with great success, and they are catching some really big fish! Spinning reels have come a long way. They are now being made smoother, smaller and stronger. And with the advantages of braid, i.e. thinner diameter and less line twist, it seems spinning would be a great way to go (if that's what you're comfortable with). In fact, I'm pretty sure my next jigging set-up will be a spinner.
In any event, make sure you check back in and let us know what decide to get. Good luck with whatever you choose!
-Bob