Rod you will need a light action graphite with a fast tip. A Dobyns 701 is THE perfect rod if you can drop the coin for it. This is no place for an ultra lite rod. You dont need the super lines just use 6 or 8# clear mono. Some like braid but braid floats and after using standard mono for years, I just dont like the feel of the bait with braid. Ive dropped in 50 foot of water with no problems feeling the bite. One light tap is all you get.
No reason for the expensive drop shot weights. I use a swivel with a clasp attached to it, then just a cheap bass casting weight. Easier to change the weights with the clasp. For the suspended fish use the lightest weight you can get by with, depending on wind or current. If Im fishing on bottom I'll use a 1/2oz weight. If in snaggy areas just use a bullet weight held in place with a couple of rubber bobber stops.
As for hooks, a #1 Owner Downshot hook is the best I have found. If using small 2 or 3" tubes just thread the point thru the nose of the tube and let the tube cradle on the hook shank. 4 and 6" worms without salt also works well. Salted baits will add weight and kill the action of the worm.
Most people over work the bait. If the fish are active thats fine but if not just lightly bounce the line in front of the spool with your free finger.. Id tell you some other tricks but my partner would kill me. lol... Dont forget the crappie nibbles.
If you have any other questions PM me.