Bait does work like a hot damn but it is high maintenance IMO. I usually put mine in a small igloo cooler at the back of the boat with some sea water and Kosher salt with a little powdered milk mixed in for shine. The salt stiffens up the bait and makes it a little tougher and easier to handle.
You have to watch your rod at all times for any bites as anything that can hit it will. You can pick up shakers, rock fish, junvenile lings, etc. (depending on depths etc.) and not notice them if your not looking at your rod. Nothing worse than some little rock fish hanging on your gear when you check it after a 1/2 hour of no bites

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Search this site and others on bait fishing lot's of info out there. Giver a whirl and good luck.
Cheers
Sculpin