Personally, fishing a "true" noodle rod has gone to wayside (for me anyways). The whole stigma of you need an ultra light line for steelhead is complete silliness.
If you are simply flipping an egg sack 10 feet in front of you, and have the room to fight a fish for 15 minutes, (which again is complete silliness), then a noodle rod is for you.
The closest thing I fish to a noodle rod is a spinning rod made on a fly rod blank, has a ton of bend, and you can whomp the crap out of it without it even coming close to breaking, but still does not have the super slow action of a noodle rod.
If you plan on jigging, I would caution you getting a true noodle. It simply does not have the tip response to swim a jig properly, and when it flexes half way down will create slack and tip-tangling because it bounces in a circle. Getting something in the moderate - fast realm will put you where you need to be to fish a gamut of baits, and jigs, and will still protect a light line. Someone has mentioned a St. Croix, which in my opinion makes a great steelhead/trout rod for a factory. If I (and this is just my opinion) was going to make a purchase of a factory rod, I would suggest this model.
WS90LM2 -
http://fishusa.com/St-Croix-Wild-River-Salmon--Steelhead-Spinning--Float-Rods_p.html Great all around rod for Erie, 9 foot, moderate flex with a light action. Has enough give to protect a light line, but enough to keep a jig pulsing.
Hope this helps!