I would recommend the Allen Compass. http://www.allenflyfishing.com/compass-rod-series/ it comes in 4,5,6,7,8 wts.
It is an excellent rod for $100. Nice medium/fast action rod that won't break the bank. Its a lifetime warranty on all rods and they come in a nice heavy duty rod case.
You could get a cheap reel for the time being, and upgrade if you want to later.
Like many above me have posted, the bass pro rod/reel combo isn't a bad deal (especially if you are just starting out), but you would eventually want to upgrade.
I'm relatively new to fly fishing, and I am confident I'll be fishing with my Allen 4wt. for a while before I upgrade.