I have some specific questions regarding this topic...I've seen how people are doing this but I am interested in specifics:

1. how heavy of a pyramid weight do I use inorder to keep the bait in place, but still feel/see the strike?
2. what type/color of lil corky is used above the shrimp?
3. how much leader from the three-way swival to the bait / corky?

please help...I really am a rookie at this thing....

Check out the fishing tips section on this board under old tips. It will show you how to rig a sandshrimp on a hook. http://www.piscatorialpursuits.com/tips/sandshrimp.htm

I don't plunk with pyramid weights so I can't help you here. I fish mainline to a 1/0 or 2/0 hook and baitloop with yarn and with tubing and lead wire about an arm's length above the hook. I've caught summer steelhead with this setup.

the traditional plunking setup is however much weight you need to stick to the bottom
anywhere from three to 6 ozs. some people use double hooks for sand shrimp and some don't personal choice. Most folks use birdies or winged bobbers ie spin'n glows I have a favorite color for my winter steelies and some people change every ten minutes till they get lucky. the lead leader length is anywhere from 4 to 12 inches.
look at how other people are rigging up, lead length,and weight, color spin'n'glow .
leader length is average steelie 24 to 48 inches.

Hope this helps
Rick