No premiums.
2 hours - no rod (real life was the reason for doing 2 hours at a time for the first try.) Went to 2 hours of posters (made level 2 at about that time), then my next 0.5 hour of fishing I got my rod.
I'd decided to do 2 hours per level until I got it, so I wasn't spinning my wheels waiting for it, earning no experience - I think this kind of goes to the real question behind the OP.
But, it took me 36 hours on another world to get a rod - so it is kind of a roulette wheel of chance on if it is worth it or not. Although, to go straight to level 10, it is probably worth trying about 4 hours per level.
The spade was another story. Took me about 8 hours to get my first spade after the rod.