A 10' 8 would work, I really like my old 8100-3 RPL but if you're about to join the steelhead/salmon world...in the PNW, you'll end up with a spey rod, might as well get it now cause it won't be easier later...might as well get the line conundrum started for real, promise..you'll save money in the long run.
I think you'll find that rod is great for fishing the beaches in the summer and fall. Probably a little heavy for pinks, but should be fine for coho. I've got a St. Croix 7/8 wt that I use on the beaches and I like it. It will probably be a great way to get started on steelheading as well--I fished a single-hander for steelhead for 3 or 4 years before getting my first spey rod this winter. Plus, you might find yourself in plenty of situations in the future where you might want to have a single hander for steelhead even if you do end up getting a spey set up.
As for the versi-tip set up--I have that for my St. Croix and really like it. It will definitely give you a lot of options, and will allow you to easily switch out and learn how those different tips will work. Especially when getting into steelheading, it might be useful to play around with those tips and learn how they sink and how they fish. And the intermediate tip is perfect for fishing the beaches.
I'm not acquainted with the rod in question, but I'd be confident in the quality of an Orvis rod. What matters is if you like casting and fishing it. Some anglers find that a 10' length wears on the wrist during all day casting, and salmon and steelhead fishing IS all day casting. It is worth considering that 9 and 9 1/2' 8 wt rods are the most popular single hand steelhead rods. I'm partial to a 9 1/2', but I have 8 wts ranging from 8 1/2' to 10'.
I don't own any factory made multi-tip fly lines for single hand rods, mainly because I was making my own before the factory made models came on the market. An 8 wt floating line is a good one to have, but would likely get the least use on a year around basis. Sink tips make up close to 90% of my steelhead fishing. Type III and type VI are good choices and get lots of use.
The posts about getting a Spey rod if you're going to take up steelhead fishing have merit. While Spey rods are not necessary, they are handy and allow an angler to fish more steelhead water than is generally possible with a single hand rod. However, if you're a beginner, and 8 wt single hand rod is a good place to begin to give steelheading a try and see if it's something you want to stick with.
Most any reel costing $100 or up will be satisfactory. Look for one that has reasonably tight tolerances without a lot of slop in its components.
i'm going to buy the scandi system for my new spey - that i don't have any idea how to cast yet...
but, skip the versi tip. it's the worst casting line i have EVER cast. i'm a hack but it absolutely totally frikkin sucks. in my professional opinion. don't waste your money.
and also IMHO, it's great to hav a mix of different kinds of floating, sinking, skipping, and singing and even dancing tips. but, on a budget - using a floating line and varying the length of your leader, weight of your fly (weighted fly for example), and even (god forbid) throwing a small bb weight on your line can cover 90% of what you need.
i'll probably get flamed by the 'purists' but don't get too up in all the fly lines.
i have also been recommended to try the scandi system on my 8 wt. would love to hear what you have to say about if you try it.
Or, just get a decent WFF and work with it. ;-)It'll save u a bunch of $$
Your probably gonna want multiple lines or at the very least some Polyleaders of varying sink rates to hang off a floating line. As others have said, "versi-tip" lines on single handed rods are dodgy at best when it comes to casting. I'd generally try and avoid them. Good concept, just not practical. If I were you, I'd get a quality floating line and quality type 6 sink tip. Do not cheap out on line, ever. If your going to go cheap on one aspect of the kit, it should be the reel. The Lamson sounds about right for that. It offers an excellent balence of price to performance.
As far as rod length, I think you should get comfortable with a 9 foot rod before considering a 10 footer. It will be a little easier to handle and until you become proficient with the heavier rod, you won't notice a significant performance increase.
Also, if you don't want to drop the $$$$ on two lines, get a good quality floating line that allows for throwing bigger flies/coping with winds (perhaps an Outbound Short or SA Streamer Express) and a couple fast sinking Polyleaders. If your not familier, a Polyleader is a tapered leader with a coating similar to that of a sink tip line that allows the leader to sink. They have a pre-tied perfection loop in the butt end and a exposed segment of mono on the other. In the exposed section you tie a loop and loop-to-loop connect of piece of your favorite tippet material (I like Maxima). The advantage to PolyLeaders is they are much easier to cast with a single handed rod then a loop on, Versi-Tip style sink tip due to the taper. Just something to consider.
You can PM me whenever you want. I know how you feel, when I first started around age 10 I never took any lessons at all, I got the book "Fly Fishing for Dummies" from the library and more or less figured it out between that and trips my Father would take me on (he didn't start fly fishing till after I did).