SCREAMIN' DEMON...I have one of those reels and love it.
Can't speak for the rod much, but how long is the rod ? If it's "deemed" to be a moocher, then it should be able to take at least an 8 oz. weight, but that's mooching weight, not "casting" (I think). If you feel comfortable casting with a centr-pin reel, a mooching reel isn't that much different, it's just is a little more "clumsy" to cast with. It can be done, I got bored a few times at work and started casting with it. You just may have to grease up the spool spindle a bit to get it spinning quickly. If you're going to be casting with it, I wouldn't reccomend using the spring in the rod so much, as in don't "over-head" cast with it, you stand a risk of snapping it. Try using more of a "side-arm" cast, as in swing the rig to your side and lift it up slightly at the end of the swing when the weight is in front of you, then release. The rod isn't used as much in the casting, but you stand less risk of snapping it.
Not sure if that made much sense...