What I use off my kayak in depths up to 500' is my quantum iron reel filled with 300yds of 14# fireline. The rod is relatively unimportant, but I generally use something with rollers since the superlines have so much friction with regular guides. With that rig, I generally fish 2oz and depths of around 270' for the vermillions in Scripps Canyon. It's amazing how well you can feel the bites with that rig even when you're down a few hundred feet.

Whatever rig you choose, seriously consider using some type of superline on the reel. It'll let you fish lighter weights and feel much more pronounced bites. Makes the rockfishing a lot more fun.

TL,
Adam