[numbskull]

The ones I built used 1/0 hooks and no split ring. They float with the water just above the lip slot (maybe 1/16th) and the water just above the minimum diameter at the tail (with a bucktail and no tail hook). They tend to want to dive a bit more than I like, but will stay on top as long as I keep the retrieve slow. Eskimo told me his stays up better, (but he is younger than me so maybe that is expected).

The plugs I built have a tiny tail weight (2.7grams, 1/2" long) that I bought from M&D's years ago. I used it instead of a tail hook.

Looking at yours, I'd drop the split ring, go with size 1/0 hooks, throw in either a small tail weight or add a tail hook, then play with the belly weight size and location to get it all floating level (I think mine had 5 grams in them).

I like plugs that sit deep and swim slow, but if you want to stay more on top at mildly faster retrieves, drop the belly weight a bit and fatten your belly diameter a touch.

I only built one with a high slot lip, weighted the same as the others, and it swims quite deep.

I'd also add, that while these little plugs have fished well for me, they are not something I've fine tuned or tried to perfect. There is something to be said for trying plugs that don't float the way you intended. At very least you learn something, and sometimes you find the fish like them way better than you.