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Not sure of the price on the baitcasters, but they'd be great for tossing things at yellowbelly. What do they go for $300 -$400. Yellowbelly are'nt an overly powerful fish. You could certainly get away with using a much cheaper reel.
I've used Pflueger rods and have no troubles at all with them. I just got my little boy a Pflueger Echelon 2-4kg spin outfit for his bass. I looked at a lot of sites with reviews before I got it. The Americans really seem to like this gear.
It seems that the Pflueger range is fairly decent quality at good prices. Paid $120 for his rod and reel and it feels great, IM8 6ft 4"graphite rod, 5 ball bearing reel....he's looking forward to testing it this weekend. I'm sure it will handle the bass very nicely.