There are many different types of seats a person can use when building a trout or panfish rod. Part of the fun in building a rod is “individualizing” the components. Myself, I like wood inserts for my reel seats. I may turn two or three until I get the look and color I am after.
Overall I would suggest that you do an internet search by looking at various vendors of rod building supplies. Also look a several “how to build a fly rod tutorials”. If you are going to use a standard type of reel than you will have many options. On a first build I would make it simple and budget priced.
For fly rods, two basic types. Up-locking and down-locking. A matter of preference for most people (like snake guides versus single foot guides.). The only real functional difference can be in that it changes the location of the reel relative to the end of the rod, thus changing the balance point.
Once you decide on Up or Down locking, the next difference is a concealed hood on the top or not. This is where the "cutout’ comes into play on pre-made grips.
ok for downlocking vs uplocking in answer to your questions. Do they install the same way? Yes just one has the threads on top (downlocking) vs threads on the bottom (uplocking). Most people like one or the other for they way they look. I will use a downlocking when I am building a bamboo or glass rod. This helps balance the rod out depending on weight of the rod vs length. I prefer the uplocking for graphite rods. If I am doing uplocking I am more inclince to the hooded so it blends with the cork. To me they both have the same amount of the pros and cons. It is a personnal prefrence. Just ask Betty
Betty uses downlocking on 'most everything. She likes being different.
A downlocking seat was originally used to balance the heavier glass or bamboo rods by moving the heavier reels back on the rod a bit. With today’s super lightweight reels, it makes very little difference.
Downlocking has become ‘traditional’ for bamboo and uplocking is used on 'most everything else. Downlocking seats are also used when you use a cigar grip as the diameter if the grip precludes inletting for the hood of an uplocking seat. There have been builders who go ahead and use uplocking seats with cigar grips by disguising the hood with thread wraps. Slide Band Style seats are another choice to use with cigar grips and are great with smaller reels on smaller rods. Newer graphite rods with the newer lightweight reels can be setup anyway you want to do it. It isn’t going to make enough difference to worry about most of the time.
I really need to be paying closer attention to what goes on in here!!
Yes, I love the downlocking reel seats. They’re more traditional, and they just look so kewl!! And I know, it sets my rod builds apart from many others! That is one of the joys of rod building!! You get to play with all kinds of options and pick the ones that suit you the best!! It’s all about having fun! (You’ll know when you’re having fun when you find yourself smiling!)