I have been using a set of Fish Brother tip ups for my trout fishing this year and have to say they are great! Easy to set up, very little drag with a fish trips the flag, easy to see what the fish is doing after he takes the bait and cheap a pair can go for about 25.00. At fist I was worried about using mono on the spool because of tangling. This doesn't seem to be an issue if careful when handling your line. About the only down side is that the flags are small.
Icepants