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You are going to learn that it is very hard to improve on anything Stan Gibbs built. You will find the same for Don Musso and Danny Pichney.
Start with the Gibbs design ( 2.75 oz is a good one and one of the very best bass plugs ever built), from there you will find that if you lessen the tail weight (or move it forward in the plug) to get the plug floating at more of an angle, you will get an easier and longer walk the dog action. If you widen the waist and increase the weight, you will get a plug that will slap a lot but not glide much (I don't like this...but bluefish do).
Wood choice isn't as important as weight/width/length/float angle. Eastern White Pine, sugar pine, basswood, AYC, and presumably red cedar all work fine. AYC is the densest. Soft woods will dent if used in the canal.
Some step drills are very useful for tail weighting plugs on center. Or drill the weight hole first and finish through drilling from there.
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