For Reds and Specs, if I could have only two lures in my box, the first would be a superspook Jr. I ususally use bone color and that it my go to lure for reds. For specs the miro-lure 17mr. I usually use the white body with red head. I have caught reds on the 17mr and specs on the spook and sometimes you have to switch all together to something else.
I have not fished out of the yak with live shrimp, but I have tried with dead shrimp from the fish market without success. I personally have had better luck with lures than with live pin fish or menhedden. But on some of the other threads I read about folks who catch a lot more fish and bigger fish on live bait. I guess each person has to find what works best for them.