Here's my set up...and this is just me:
1) I'm not about high-end rods...Schooley Arctic Blues and HT Ice Blues...both around $20 each. Lengths are 36" and 48". Nothing special in the reels I use either.
2) Line choice...fluoro or mono 1 - 3#. Right now I'm using 3# fluoro but considering going back to 1# mono...next season. We'll see
What I am about are good, high quality indicators and jigs:
1) I use Fiskas jigs...well made and real sharp. Primarily 3mm but go to 4mm on occasion...nothing bigger. No swivel or split shot either.
2) And Ice Strong titanium indicators...a little pricey but the best for me. Extremely sensitive. I do modify them a bit.
Summary...I like my rods because they have a relatively thin tip, but they're not "whippy"...I'd call them "light" action. That's why I choose the indicators I use, let them detect the bite (even the slightest) as they are designed to do, and with the well-balanced/sharp jig and a not too flexible tip, hook sets are quick and precise...just a flick of the wrist. This set-up works real well for me, especially on those light-bite, finicky days when the fish are in their "suck-n-spit" modes...which is quite often as we get later in the season. We can usually catch the dinks all day long but the bigger gills...sometimes a little tougher. And I like to be ready. jmo.