Calling Ingwe! I think he's caught "a few" fish on ultralight gear (pike and trout, anyways).
A few.......
We ( Ingwewife and I...) currently use Shimano Sedona in size 750...excellent reel for the price, and Shimano 5'6" ultralight rods ( cant remember the model but the sell for $50-$60). Loaded with #10 fireline the whole outfit is just under $100 and will provide a long service life..
We usually catch stuff like this on them....
But we also-as mentioned- use them on pike...Ingwewife got this one last week...