Hey Bahamasfisha & Slaya:
I'm relatively new to the deep dropping but I have been coached by some of the very well seasoned deep droppers. And at this point I would have to say that I prefer the Caribbean "Deep drop" sandwich.
What's a Caribbean Sandwich you say? Well it is one slice of your item number one above sandwiched on both sides with your item number 2 listed above.
The cuda chunks are thin enough so that two pieces can easily be sandwiched on the circle-hook. (Skin-on but scales removed).
BTW - Just a notation. I was in the backyard last night with my 3 year old. I asked him if he wanted to feed the fishies. Oh yeah, he was all excited about that.

. So I got a bag of some fish scraps out of the freezer and we sliced up the frozen mass and defrosted the stuff into a big bowl of water. There was a mixture of swordfish bellie scraps, squid and shrimp.
:shock: The observation was that anything that floated, the mangrove snappers would just let float on by. So most of the pieces of the swordfish bellie were floaters, (just like bacon). But all of the swordfish that sank got tore up, and they really liked the squid too. And it seemed like the shrimp would just get knabbed without any hesitation. (dense sinker)
Based upon that observation, I suspect that they are just weary to hit any baits on the surface. But they finally took the floaters later on after the freebies stopped. But I may also suspect that any bait that floats could be suspect to being less preferred than a sinking chunk. Although all baits attached to a 10 lb. lead will tend to sink.
Just a little observation that I thought I could share with you. Maybe a floaty bait is less preferred than a dense bait. I may even consider making my Caribbean sandwichs with a slice of shrimp in the middle since they seem to just love the shrimp. Actually, I may do them both ways in alternate fashion on the chicken rig and see if there is a preference. But I like the idea: feed the fish the chicken skins and keep the squid for yourself, a Calamari Salad.
Bahamas - what types of snappers are you catching deep in the Exumas? Any Queens?