Priority2-
Have you read the links that posted earlier in this thread? I attempted to provide a link to the methodology of the creel census and another where you can find how the test boat fishery is incorporated into the catch estimate with an example (MA 9 summer in 2014)? The methodology has been used in a variety of fisheries and with extensive review has been determined to be a valid method that would produce reliable results.
If you want more details or have specific questions you may what to engage one of the several folks that post here that are members of the PS fishery advisory board -Sky-Guy, Bushbear, or TJN.
OceanSun-
Of the top of my head for Puget Sound recreational fisheries the release mortality is assumed to be 15% for adult fish encounters and 20% for "shaker" encounters. Those mortalities are used as part of the allowed ESA mortalities. Though it is important to remember for those ESA mortalities the calculation is for the number of adults that would not reach the spawning grounds because of those mortalities. In case of the "shaker" mortalities there are adjustments to determine the adult equivalence (AEQ) meaning what portion of the "shakers" mortality would have survived to reach adulthood; obviously there continues to be marine mortalities (your ling cod example) through out the fish's life. The smaller the fish the less likely it is that it would survive to adulthood.
Curt