We used to fish a lot of holidays at St Lucia lake. We would hand-line for live bait. The trick was not to let the bait get to the bottom otherwise you would just catch Nondies. The live bait we where after was was glass nose. I am not sure what the real name is. But it was deadly. You could sometimes catch them at night during full moon. The trick was to catch them and put a hook through the anal fin area and then cast them a bit away from the boat and wait. You could feel when a fish had picked up the live bait. Salmon and springer was what we would catch with them.
The rig I would use was a fly rod with a small scarborough reel. It was such fun with that light tackle and you could fight the fish almost with your bare hands. You are the one in control of all the push and pull on the line.
Here is a great article on 5 ways to hook a live bait. I know even deep sea live bait is a winner.