You're on the right track. I would get a 7' medium heavy/fast casting rod and a reel with a gear ratio in the 6's. Make sure your reel has an aluminum frame and not graphite. This combo will be good for t-rigs, jigs, spinnerbaits...etc.
I would get a 7' medium or medium light, fast action spinning rod with a 2500 size reel. This combo will be good for drop shots, shaky heads, wacky worms and anything that is too light for your casting combo.
Learn what these 2 combos do well and do poorly and expand from there, down the road. Your Ugly Stik might make a good crankbait rod. They normally have a slower action.