It comes down to personal preference really. I enjoy using just plugs...wooden ones! Its just what I enjoy!! I have fished eels....did great with them! I have done the cut bait thing....still do on occasion....just a little boring for me! I just get a kick out of fooling a fish into taking a piece of wood! I will disagree with F-18 though...catching fish is not always as easy as just ch#^&#^&#^&#^&#^&g the plug in the water! If you have no clue how to work it, how to vary your retrieve speed and to use the action of the rod tip to breath life into the plug....you may catch a fish or two but you will catch alot less than someone who knows how to work a plug!
Thats the part I enjoy...foolin' fish with fakes!
Addendum: F-18 knows how to work a plug.....thats my point! Go get um' Dave!