Haven't used the sluggo's too much, but I can say this:
They will work nearly as well as eels if you can keep them near the bottom. Steve has repeatedly advocated getting them down, and has even started adding more weight to keep them there. In the nights I've used them, keeping them down has been the key. When you hear eel fishermen say "retrieve slowly", what you are really hearing them say is keep it near the bottom(strike zone) as long as possible. Steve retrieves the sluggo fast, but it starts on or near the bottom.
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