Can you help a newbie out with picking out his first spinning Reel/Rod combo?

Hi,

I am a newbie and I just came back from the Kern River in California
where I was trying to catch Rainbow Trout and Bass. My friend caught 1
trout and 2 bass and I got nothing. I have bait fished for stingrays
before off the Newport docks but that required little skill and
instinct but it was also really fun because I actually caught
something. I find that freshwater fishing is very interesting because
it involves tricking the fish. I now need my own setup so that I can
start learning and adjusting to my own gear. All I know is that my
friend recommended that I get a 4-6-8lb tested rod/reel and that it
should be spinning and not baitcasting. I have looked through my local
stores such as Sportmart and Turner's but I am confused as to what I
need to buy. I am only 5'4" so I don't want a rod that is too long. I
want to spend a decent amount of money on a setup that will last me a
few years and won't leave me wanting to upgrade anytime soon. I am
thinking of spending around $50-$70 or possibly a bit more on a combo
if it is a reliable setup. My friend says that Shimano is one of the
well-known and trusted brands so that is what I have been looking at.
Could anybody recommend me a good reel/rod combo and a good deal? I
would really appreciate it.