most of the time I'm tossing 3" senkos, 2-3 inch rapalas or jointed rapalas, 3-4" tubes, and small jigs using ultra light tackle.
Thus far, my favorite all around rod for both largemouth and smallmouth is my 7'6" Okuma light action spin rod, and a Shimano reel spooled up with 4lb Trilene. I'd be hosed if I caught the monsters that Colby catches regularly, but for the 10" to 2lb bass I normally get with my gear - i'm more than adequate. I use the same rod for panfish, trout, and carp. Big carp are huge fun on ultra light gear - and they usually inhabit more open waters, so I can fish the light stuff more or less worry free. A 5lb bass usually lives in places that are a lot brushier, or have more cover to break me off in.