Kage,
The Shimano reels come in an array of sizes - 500 (ultra light) 1000 (light/ultra light) 2500 (general size for trout, bass, most fresh water stuff) and 4000 (steelhead, light salmon, heavy fresh water, light saltwater fishing). If it's the small (4'6") Ugly Stick, the 500 or 1000 size would work fine, if it's a longer (5' or 6') rod, the 1000 or 2500 size is probably going to balance better.
With Bi Mart, at least, there's no price difference between the small reels and the large reels with the Shimanos. There might be a dollar or two different at other retailers depending on reel size.
NoobTooner's mention of the Celilo's is spot on. 90% of my spinning and casting rods are Okuma Celilo series rods. I've also got an Okuma Reflexions rod (the next step above the Celilo) - most excellent rods. I have an 8'6" 6-12lb rod I use for my steelhead drift rod, I've also got a 9'6" 6-12 for spin fishing for steelhead, I'm selling my 9' 20-40lb heavy casting rod just because it doesn't get a lot of use, I've got a 6', 7', 7'6", and 8'6" for ultra light spinning rods. All of the spin rods have the Shimano Sienna reels, the steelhead drifter wears an Abu Garcia Revo S-L, and I just sold the Shimano Corvalus that was on the heavy rod.
I can't say enough good things about the Celilo rods and the Sienna reels. I should get paid by Shimano and Okuma to pimp their gear!