The onlly setup I would spend money on is a good river rod/reel. I have gone out with my dad (who is a once and a while type fisherman) and stood right next to him, fish the exact same setup, and I catch more fish. For steelhead you were right on the money with a st croix. I use the wild river 9' light action and I LOVE IT. Salmon are a bit harder runners, so if you are plugging for fresh kings in the river, yo will want a rod with more backbone (that's where your 8-12 lb rated st croix would do nicely). Higher end rods are more sensitive, so if you are ticking across bottom with light weight, you will notice a difference in high end rod performance.
For pier/surf rods don't spend gobs of money. I like atleast a 10 foot rod, but 12 or 13 foot is better. Whoopin sticks are great. Typically you are bobber fishin for steelies, or throwing bait on the bottom or chucking hardware, so a sensitive rod is not needed. You know when that bruiser brown grabs your spoon
As far as rainshadow blanks are concerned I love em. I have a 9 ft 5 wt custom fly rod and its great. Landed plenty of steelhead in low/clear situations and loads of browns on it. It is my goto rod for nearly all river situations, unless the river is really high then I bump to my st croix which handles 6 pound line.