your rods will work just fine. but 7' med cheap glass rods are all you need for dipsy's. braid is a must for dipsy's. you cant get a dipsy to trip with mono because it has to much stretch. I use a rubber snubber behind my dipsy then my 6' fluro leader. but the main reason for the braid is if you set the release loose enough to trip with mono it would trip on every wave. I can say what line is best with tt because I've never used them.

always put a mono backing on your reel before putting braid on. braid has a tendency to slip on the spool if you don't do something. the more backing you use the cheaper it will be. but leave enough room for braid.