[Stripersurg]

I believe you right concerning the smaller fish. You can always go down in size on the hook, as well as the size of the chunk.
As for the bait runner, when I first started using one, I would go light as well, fish would run, I would react, close the bail, and pull the line tight, and miss them.
I was getting pizzed....lol
So instead I tightened the drag down on the bait runner, and the next fish that took my bait, picked it up, ran a short distance, the line tightened up, and it hooked itself, so I always us a tighter drag now on the bait runner, not super tight, where it wants to drag the rod into the water, but tight enough to bend the rod, but also feed some line out.