I made up my own rigs for a recent sharking trip out of Downings. The general consensus was to use 10/0 O'Shaughesy's. I use circles myself, usually 10/0 VMC 3X circles, but because of the smaller gape, I went bigger - around 12/0 (though I was using Mustad Tuna Circles which are described as 18/0). I then crimped the hook to either Shimano stainless bike gear cable, or 275 lb 49 strand American Fishing Wire (this is really good stuff) - around three feet. Then went on a solid ring ball-bearing swivel at around 300lbs BS, followed by about 12 ft of 200lb mono, ending in a 100lb-ish crane swivel. You can use a oval split link or similar at the wire/mono interface to allow you to attach a small weight to get the bait down out of gulls reach. Use a proper cup-to-cup crimper and double-barrelled crimps. Shrink tubing on the wire ends as they exit the crimp can save painful fingers too.
Basic techniques are here:
http://www.leadertec.com/tipsandtechniq ... iques.htmlMany people put an overhand knot in the wire at the hook and swivel before crimping: you can do this with 49-strand, but not with bike brake or gear cable. According to the above, it's not necessary with a proper crimper and good crimps.
I've tested mine with my body weight - the coat hook was going to come off the wall before the crimps gave way. This is certainly not the case with plastic covered wire.
p.s. I never did get a shark on that trip, so my traces are still 'virgin'.