Your opener set up

After much thought, I respooled my inshore rod (quantum inshore abu 6500) with 30# power pro spectra topped with 15 feet of 15# fluoro.

I want the smaller diameter to more easily work lighter baits deep.

MolBasser

I use one of two setups:

Meat rod:  Old med heavy action Sabre rod with an Accurate loaded with 30lb powerpro and 30 lb mono top shot (10 feet) to a mono leader to a diamond jig.  The 3.5 foot mono leader has a 2" 20lb mono "breakawy" point back to 30lb mono to help fend off the nicks and abrasion.   I use this setup 95 % of the time.  I usually fish a leader a few hrs before having to change due to wear and abrasion.
I can break off 20lb Mono, but anything heavier is scary.

Sport rod:  light action Sabre rod with an Avet SX loaded w/20lb powerpro/mono topshot to a swimbait.  This is usually for the shallow water where I tend to put away the metal.  

I generally don't fish swimbaits that much, because it gets quite costly over metal jigs (unless you start losing a lot of metal).  You also get a faster drop with metal, so you can maximize fishing time on the bottom.  

Stuart

My setups are similar to Stuart... but no leaders.

My meat rod is a 7' E-glass Mod/Fast action rod rated for 25# line.  I use a Shimano Triton TR200G spooled with 25# Ande or P-Line.  I find 25# line to be a good compromise between abrasion resistence and ability to break it off if it snags.  I use this setup with heavier swimbaits (6 oz or more) and diamond jigs.  I pull this one out for deeper water, fast drifts, or if I just want to use big jigs.

My standard rod is a 7' Graphite / E-glass composite mod/fast action rod rated for 20# test and I have that one equipped with a Shimano Triton TR100G spooled with 20# Momoi Diamond.  This one operates best with 2 to 4 oz jigs jigs and swimbaits but I can throw a 6 oz jig on there in a pinch if necessary.  This one is light in the hand and I can fish with it all day long.

I generally use swimbaits with 3 or 6 oz heads, usually tipped with bait such as belly-meat strips or herring, along with an assortment of diamond jigs.  If I want to avoid catching a lot of smaller rockfish and specifically target lings, I'll throw a 6 oz jig head with a 6-7" swimbait tipped with bait.  It's a big mouthful but the lings can dig it as can the larger vermillion and cabezon.

On the terminal tackle end, I use what is known as a "teaser" rig on the East Coast.  I'll use a ~3' leader with a snap swivel on the bottom for my jighead or metal jig. The top end is tied to a barrel swivel and I leave a long tag end that allows me to add a 3/0 siwash loaded with a small swimbait or soft plastic. Back east, people would often use a streamer-type fly, but the soft plastics are a lot cheaper. This kind of rig was used for casting lures in the surf. A big double on a light rod gets interesting.

I like teasers, however I find that swimbaits and scampis tend to get their tails caught in the hook due to the fast jerks up and down between  the lead and the rod.  To avoid this I use hoochies or squid for teasers.  You can get tinsel hoochie insert things at wal-mart that work really well too.  I had a double of 26" lings last year with a diamond jig and the tinsel insert, and a 3rd ling followed them to the surface trying to steal from the other two.

I stocked up on tinsel during xmas, so I'll tie my own bigger tinsel teasers this year.  The stock one was a little small and caught alot of 8" blues.

I've also noticed that the phatt cabezon in shallow really like purple or red single tails, which most likely imitate octopus or the red crabs, which are some of their primary food.

Brendan,
I concur with everything you said, especially about the cabs.  I have stuck my biggest in 10-15' of water on a big ole' 10" worm rigged Texas style with a 1oz lead.  I snake this rig through very thick kelp and hang on.

Ed