absolutely go deeper than 40'. that is the key. get too shallow and you will get scavengers. i use cut herring or fresh squid and both have been working well in area 11. we run the bait on a 1 or 1/0 hook with a 3' leader with a 1 to 3 ounce sinker depending on depth and current (use as much as you need to keep it down on the bottom but go as light as you can get away with) and bounce along the bottom with the current, or slowly with the motor.
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alcohol, tobacco, firearms, who's bringing the chips?