My Dad (79 yrs. and counting) schooled folks today fishing plain hook tipped with mackerel/squid combo. Boated seven keepers to four pounds! He went 7 for 12 keeper ratio. You can sure learn from the elders eh?
When fishing the Old Grounds or any other snaggy bottom or reef I have been foregoing the fancy rigs lately and staying with a plain hook on a 3' leader with mackerel to start and then fresh meat-of-the-day as it comes over the rail.
It catches as good or better than the glittery stuff and you don't hear cha-ching in the back of your head every time you lose a rig and weight.
On our last trip to the Old Grounds my wife and I used plain hooks and meat and boated 10 keepers.
you won't lose rigs if you have the right set up... talk to paul from jpr.. couston rod and a shimano ocen jigger reel locks and can put any snag out if you have the power pro... its a pricey set up but man is it great