Morning Mystical, From what I have learnt...and probably a lot of people is that it is best to buy they best you can withing you budget. My first combo cost me about $400 and was fine so $700 should be plenty.
Both options you have picked are fine. they are both bigish reels so you could affored to move up to 65 or 80lb braid. Although it might be overkill for some fish. When there is the fish which you need every bit of strength in you line you will appreciate it. A lot of what to consider with your rod is how deep you wil be fishing. Generally if fishing under 100m of water I try use under 300g jigs, 250 if i can. This will be easier on the body and mean you can jig for longer. Dont be afraid to look around, especailly with jig rods, there are lots of well priced rods coming into the market. A fav of mine for under $200 is the fin nor marquesa in the 270 or 325g, great to jig with, very parabolic and great value for money.
For the reel, a saltist 30T is a very popular reel, for a reason. The are a good entry- mid range reel. Others to look at under the $500 mark would be a Maxel OSL6D, or a second hand Accurate or jigging master, which pop up on here occasionally.
There is not super right or wrong combo, more what feels right for you. If you have the chance go into a tackle store a pick up a few rods and reels and see what works. At the end of the day you are the person who fishes with it for long periods of time, so best to make it comfortable.