I'll start by saying that if you stick with it and start spending a lot of time spearing, you won't have just one gun (Spearguns are no different than shoes or fishing poles). For what you describe, I think the best all around single gun would be a 55" midhandle. You'll have the range of about a 120 cm rail gun for when you have good visibility, but you'll only have the length from the trigger to tip of about an 80 cm rail gun for when the visibility is bad. A 100 cm gun would be a little short for bluewater and a little long for bad vis. If you know anyone with a variety of guns, I'd borrow some and see what you like.
For a long time, I used Euro/rail guns, but you really need the right length for the visibility. They don't perform well if overpowered, so your range is proportional to gun length. The good thing about them is they all shoot the same (I didn't own two of the same model), so it's easy to switch among them based on the visibility. I had guns from 50 cm to 140 cm, and usually brought 4 or 5 guns with me on trips. I switched to midhandles, because rail guns have their faults at the end of the size ranges. I shoot a lot of grouper in murky water over here. With a short rail gun, there's two issues. There isn't a lot of power, and the shaft is short. A bad shot on a 15# grouper in a wreck with a 40" shaft, and he can weave his way through all kinds of obstructions if you don't stop it in time. I've got a 40" midhandle I now use for my Bay diving. It has the trigger to tip length of a 50 cm, but the shaft length and band pull of a 90 cm gun. It also shoot the same whether I have one or two bands loaded. With the 40" midhandle, I've replaced the 50, 70 and 90 cm railguns that I had.
At the other end, if you overpower a long rail gun, it loses accuracy fast. A long rail gun does have an advantage over a long midhandle for smaller fish, as your tip is about a foot closer to the fish. It's easier to hit a fish 14' away than 15' away. But if you need to hit a big fish that's 15' away, the power you need for a rail gun is going to affect it's accuracy more than an enclosed track midhandle. I've replaced my longer rails with a 59" midhandle. It has the trigger to tip length of a 100 cm gun, but the shaft length and band pull of a 140 cm gun. I can use four bands on it, and it shoots with the same accuracy as two bands. So with that gun, I've replaced the 110, 130 and 140 railguns.
Bottom line, is that with two guns, I've replaced six, without losing the ability to accurately shoot in any conditions. That's a lot less band, shooting line and shaft maintenance. (I do also have a 52" midhandle that I added as a tournament gun - faster to reload than the long gun and better range than the short gun.) Another positive about bringing two midhandles with me, is that people don't bitch about me bringing five spearguns on trips anymore.
If you do go with rail guns, a dirty little secret is that unless it's a long gun, it doesn't matter if the barrel is aluminum, carbon fiber, or toilet paper rolls. I wouldn't spend the money to upgrade over aluminum on anything 110 or under.
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