Depends on what youre doing.
Most of the time fireline gets the nod.
When Im drifting plastics such as ring worms etc, or throwing hairjigs, or drifting light jigs and bait such as crawlers I like a monofilament such as xt #6 solar (for visibility) for its buoyancy. Mono allows that light 1/16 to 1/8th ounce jig to drift a bit better and not sink so fast.
For everything else I choose fireline 10/4. This includes throwing cranks, trolling, 3-waying etc. Mono would just get scuffed to heck in the previously mentioned applications. Of course any part of a rig that offers live bait is snelled up on mono.
Fireline would work for all scenarios but the mono has its place. I used to pull spinners with crawlers on a 3-way rig alot and I remember losing some fish though because the fireline didnt stretch and hooks would rip out. So I could see the argument for 10lb mono in that application because of the stretch. But I never really put that to the test and instead went to using a glass rod that had more flex to it so I had better hooksets.
As for reels…I tend to go with spin cast reels for throwing jigs and cranks and deadsticking. For trolling or rigging I use a baitcast type reel.