Using a baitcaster takes some getting used to at first if you've never used one, but once you get the hang of things, they are much more accurate, as you can control the bait all the way to the water better, and having smaller guides on the rod helps too.
Using a baitcaster for trout may also be a little tricky, as the drags on spinning gear are usually better. I use a medium light rod for finesse fishing, which those rods usually don't go up to 1 oz. for the recommended lure weight. I would recommend a medium light rod for trout with a baitcaster, although a medium light casting rod is sometimes tricky to find, look at the bass pro shops carbonlite, it's a little more than you're looking to spend, but well worth the extra money. At most, for trout, I would use a medium weight rod. With your rods, keep in mind the lure weight on them. Having the proper rod for the lure weights you're looking for is essential for distance and accurate casting.
This is also just my thoughts, but I would use a lighter weight for trout, 1 oz, is huge! But if you have something that works for you, go for it.
Has nothing to do with my answer, but what state do you live in? If you're by a Cabela's or Bass Pro Shops, their brand rods and reels are usually pretty decent for the money. My favorites are the bass pro shops johnny morris signature series, they're pricey, but well worth the money. I would invest a little more money into a slightly nicer combo, I've had some cheaper combos (~$100), they weren't bad, but they also limit you as you begin to use a baitcaster.
As for line, I use mono backing, then braid, then fluorocarbon leaders. I use 12 lb mono for the backing, 30 lb would be good for the braid, and then depending on what your lure was, between 6-10 lb fluoro. You could also use all mono or all fluoro too, I like the braid for the feel, you can feel your bait working better, can feel the fish hit your line better, and you don't have to set the hook as hard in order to get a good hookset (with finesse fishing, you don't even set a hook a lot of times, just reeling in will set the hook for you)
The best cheaper combo I've ever had was a Quantum reel with a KVD rod, it was $99 from bass pro I believe.
You may also want to post your question, or have a moderator move it, to the state forum where you live, in order to get more accurate answers for your location, as well as more people viewing the page. I've never even looked in this section of the site, to be honest, I didn't even know it existed, luckily the words baitcaster appeared in the hot forum topics, or I would have never seen this post.
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