Good questions.

I'd have to say that I land more fish and thus have more confidence playing one with a bigger hook.

My favorite driftfishin' hook is a 2/0, but that's just because I fish the peninsula most of the time. Overall, I use a range of hooks, dictated by river conditions, between #2 to 2/0. On occasion I use #4s (free-driftin' bait) or even a 3/0 (woke up feeling lucky).

On occasion I'll plunk with the ol' timers. Here's where I'll go relatively smaller. I've see some of those bait soakers use 5/0 Eagle Claws. Way too big in my book. I stick to 1/0s to 3/0s most of the time and still haven't straightened one out yet using that broomstick that I call a rod.