Hey Mike,
If your going to get the Loomis rod for your birthday anyways, it just dramatically sweeten's the pot.
Cortland is a great Company and has some awesome products, so I would think they would be a good pair of waders, especially for free. Free is a really great price!
I'm sure they would come with a warranty, in case you had any problems with them.
You could always just get the waders in my size, so when I get there to go fishing for those HUGE Trout with you, I would have a pair to use! LOL!!!
By the way, Happy Birthday Mike!
"The solution to any problem - work, love, money, whatever - is to go fishing, and the worse the problem, the longer the trip should be." - John Gierach