wow, lots o' questions! :D
i'm no expert in the cut but the fish i've caught out of there have come on a watermelon GYCB 4" double tail grub. the bend/point thing on the observation deck seems to be a good spot. all along that area (from the bend up towards the boat marina) there is a raised platform about as wide as the walkway. there seems to be a lot of riprap all along there (lost a few grubs in there :o ). another time when i got one, there was a floating mat of weeds that was going down the cut next to the walkway and i pitched my grub through the mat and i got a smallike as soon as it got to the bottom....
i know those docks and weeds have largies but those rich people don't like it when you fish in there. one time i was fishing on one of the docks (the beginging part, before the big fancy door) and a couple told me i shouldn't be fishing on there. i said ok and left. then a few minutes later they sent security to find me and give me a lecture . he said that fishing on the docks is illegal because it's "private property" but fishing from the shore, 1 foot away, is all good. whatever :p .
i also remember one time (a couple years ago) on the University side of the cut, there was a guy catching some decent smallies on grubs. and i saw at least 3 smallies right next to the bank/wall that were 2lbs-4lbs. the fish seemed to be on lock jaw though . if i remember right that water was a little shallower and weedier.