Greg, I think you'll be fine with that combo. The difference between med/lite & med is probably not noticeable to most.
I have 2 Mitchell 308X reels ... one on a 8ft BnM Float-n-Fly rod & one on a 10ft Huckabee Dipping rod ... and they've performed very well. I've owned the "old school" Mitchell 300's and they were fine reels in their time.
If you get that outfit, test it with different weights (within the range noted on the rod) and you'll find that 'sweet spot' weight that the rod/reel will handle the best. Then you can still use heavier or lighter weights/baits, but will know (beforehand) how much or how little casting force is needed to get the best distance & accuracy out of the outfit.
After you set the hook and play some fish to the net, you won't even think about the fact that it's a "med" and not a "med/lite". I use many different powers & actions, even a med Bass rod & braid, and don't think a thing about it when I'm casting or fighting a fish. I know what the outfits can handle, as far as weights or baits, and use them accordingly.
... cp