Well, if it was me and I didn't already have a rod that size then I'd keep it.
If you go pike fishing, then you'll appreciate there's always a chance of ending up with a bigger fish on than you anticipated, in which case, unable to "muscle" the fish, you simply "play" it until it tires - using a combination of the bend in the rod, and the reel drag
The only advantage the 20/30 would have given you becomes apparent when you have large (8oz) leads on, fishing at depth, when the rod takes most of the strain and the reel drag becomes secondary as you concentrate on the haul up to the surface
So - it's not the size of the fish - it's (in your case) the depth you will be fishing at and with how much lead on - and only you can answer that one
Relating this back to your lure question, these rods seem to have lighter tip sections, which may make lure casting a possibility, and if you do use it for lure fishing, then the depth and lead issue above is rather neatly avoided (I spin with 8ft 10/12 class rods so it's not that far off, and shorter rods on boats is generally a good idea)
So - basically - accept what the rod is best at, and use it for that. Don't ask it to do what it's not designed for and you'll be fine.
As for reels, the distinction between a rod set for a multiplier or for fixed spool is easy to see.
Firstly, the reel seat: Some multiplier reel seats look like scaffolding, and won't take fixed spool feet - so - if the reel fits on - you're halfway there
Secondly, the first ring above the butt: On a typical f/s set up rod, this will be at least 18 inches up from the reel, and at least an inch wide where the line goes through. This is to accomodate the way the line comes off the bail arm, as the line will rotate about 4 inches as the reel turns.
On a multiplier set up, that first ring only needs to be half as wide, as the way the line comes off the reel is more of a straight line. The first ring can also be closer to the butt for the same reason.
Rods set for fixed spool can be usually also be used with multipliers - but rods set for multipliers will "strangle" the line coming off a fixed spool.
Looking at the ads for that rod, as they don't give you the option, I suspect it will be fine for both.
Of course, this now means you still need a 30lb rod - lol
Take a look at the Penn overseas series
www.fishingmayhem.com/FMOSC/product_info.php?products_id=1152If you're going to spend that kind of money, might as well get something a bit decent
