greenlantern,

I don't think anyone has ever said that equipment won't work. A few of us on the forum here started out about the same way. If you like it, at some point it really would be worth upgrading at least to a Fountainhead Caddis Fly 330 (about $45). Lighter, more sensitive, able to cast a lighter line (and still cheaper than a tank of gas).

Until then, though, welcome and post your experiences as you explore the world of tight line fly fishing. (The original meaning of "tight line" was not having a fish on the end but that the line was tied tightly to the rod tip, as opposed to a "running line" which was loose to run through the rings - what we now call guides).