Thanks for the replies, I'm more excited about receiving the pen rod now than I am about the TinyLite I just received, lol.
Initial impressions of the TinyLite:
First off, this thing was cheap ($17) and I can't really hold it to the standards of more expensive reels. It came with an extra spool that is "graphite" which may just mean plastic in this case, but it's actually quite a bit lighter than the aluminum spool that was already fitted on it.
It's a 2 ball-bearing system, yet it isn't quite as smooth as I had hoped. However, I don't think this is a bad thing, to be expected with cheaper reels. Its not clunky, just feels heavy.
It's definitely not as compact or light as I had hoped either, which is my main problem with it. They say it's 5.4oz on the site, which I have no way of testing since I don't have an electric scale, but it just seems to be like any other reel. Of course the term "TinyLite" is really referring to the way it handles fish, not a reflection on it's size, but the site played it as being much smaller and lighter.
I spooled it with 4LB test line today and I'm going trout fishing tomorrow in a lake that produces mostly 3lb-4lb trout (and a couple 200+lb sturgeon O_O). So we'll see how this reel deals with the fights, and also my collapsible aluminum rod. This is the first time I've taken either of these fishing so I'm a bit nervous :)