With sinkers,use the lightest you can get away with, every time it lifts off let out line until it touches down again, your bait will cover a lot more ground.
With hooks, most times a 4/0 size will do the job, and they must be needle sharp.
I use mainly gamagatsu octopus, and mustad penetrator.
The mustad is a finer gauge, but very strong, good for softer baits like pillie, prawn, and skinless fish cuts.
Bait presentation is the key to enticing fish to bite, especially when they're not particularly on the chew.
With small pillies, herring, and mullet, slice diagonaly through from the gill case, and thread the hook so that the point sits exposed in the cut area, a half hitch aroung the tail wrist will keep it from bunching up on the hook.
Use it unweighted, or run a small bean right at the hook.
With the small (2-3 inch) squid, thread the hook through a couple of times and bring the point out through the eyes, there's a fair bit of juice will come out and act as an attractant, half hitch the tip of the mantle to keep it straight.
Cut squid lenghtways, making triangular strips, split them about halfway up the point of the triangle, fold over and put the hook through the folded part, when finished, it should have two trailing 'tails'.
Fishing the 'lift and drop' method mentioned, will get results.
Larger squid are deadly for jew rigged the same on an 8/0 paternoster, or you can make a 'cockinasock' by putting a pillie inside the mantle, when you thread the hook, make sure you go through the head and body of the pillie to keep it in, again, point through the eyes of the squid and half hitch on the tip of the mantle.
A very good single dropper paternoster set up for jew is to make the sinker loop, come up about half a metre tie on a strong swivel, on the same eye tie on a dropper about the same length with an 8/0 hook, tie your leader to the top eye, or alternatively, if you are a slack arse like me you'll have a solid coastlock on the leader, and just clip onto that.
I rarely use anything more than 60lb Schneider or Black magic clear for jew/ heavy bottom bashing rigs.
The long single strand dropper allows you to tie on another hook in case of a bite off, without having to remake the whole rig.
I generally use halco b/bearing coastlocks, and have never yet had one fail, even on biiig lemons (my everlasting nemesis).
For general bait bottom bashing/trolling I stick with 50lb Fins/50lb leader 6' & 6'6" Ugly Stiks, TR2000 Charter Specials.
For everything else I like to use light spin outfits. ( yes DOUG, I still use my old ABU outfit, mainly for 'mud mullet'.
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I'm far from being a 'guru', but, sometimes I catch the odd fish or two.
As Lats pointed out, fresh is best, but, I hope some of this helps in some way.
graham.