As for bait. well it depends what you are targeting. Fresh is best, be it fresh mussels paua guts crayfish for the fussy eaters eg rig moki and what not. Fresh kahawai or mullet is hard to beat for things like Sharks (schoolies sevengillers etc) skate and congers and whatever else swims.
A rig as basic as a ledger will do the trick for nearly anything i reckon. but can go to paternoster styles etc though take more time to tie