We have two types of fish in New Zealand, big ones and small ones, and yet we have hundreds of rod and reel combinations of every size and capacity. Lures choices sound like a verse from a Dr Suess poem, long ones, short ones, fat ones, bright ones, light ones. Our 30m2 wall of lures has over 4000 lures, one model alone can offer 5 or 6 colour choices, with 5-6 different weights. Different variants of the same lures for the same fish, but different only because of the depth of water or the wind and current conditions they are used in. Although fishes' feeding patterns are sometimes aggressive, sometimes just grazing, this should also determine lure size selection.
So a average rule for lures selection for "small fish" is as follows, if you are a fair-weather fisher-person and fishing (drifting) in about 8-10 knots of wind a 70-120g lure will get you to the bottom on these days, depending on the current.
This size is optimum for most feeding conditions. Fishing in stronger wind, 12-18 knots you will have trouble getting to the bottom with an effective size lure, so anchor up and use bait, albeit a bumpy ride, is the best chance in stronger winds as the drift will be to fast.
Rod and reel selection goes the same, take in point the "small fish", same fish, just deeper, but you use a heavier lure or sinker so you need heavier line and more capacity.
If every day was 5 knots variables, for the "small fish" we would all use a 10lb line, a 15g lure and have a ball sport fishing .
So to catch, one fish, two fish, a redfish or a blue fish, match the conditions, have a variety of lures weights, matched with a lighter rod and reel set, thats a 10lb braid set or a heavier set, with 20-30lb braid.