I've had great luck using a jig on steep rock bluffs in cold water. At the same time I have taken some big fish in grass beds that have not yet died off. In clear water I will target deep banks with thick cover or deep brushpiles. I'll pull the jig along a little, let is set for a couple of seconds and then shake it a few times then repeat. Again, slow is the key and letting a jig sit for a few agonizing seconds can produce some good fish.
Presentation is much more important than bait selection.
I figured that you had to fish the deepest water in the lake. After gaining some experience however I began to catch bass in water eight to fifteen feet deep instead of twenty or thirty. I caught fish in the summer. Small jigs spoons and finesse worms will catch bass well through the ice. I like to target ponds or lakes that have standing timber near the creek channels.