XRAY it sounds like you have all the needed equipment. I have fished the south sound for 30 years and have done pretty well. My tried and true go to is a Hot spot flasher with e-chip a 30" leader to a green and white squid / hootchie with a small pc. of herring strip on the top hook. I have also started to use a shrimp and anise oil sent applied to the squid and a drop or 2 put on the flasher, it sure doesn't hurt. I run my main line out a good 50' before I clip it on the down rigger, some go farther some keep it closer. Depth really depends on where you are fishing, time of year etc. and what you are seeing on your depth finder if you have one. If no depth sounder go down about 40 - 60'. I don't know your area to well but I would suggest shooting across to Dolphin point on Vashon. This time of year is a hit and miss with the black mouth which have a tendency to stay deeper. July and Aug. is my best time of year and you cant beat outside of Gig Harbor and or Chambers creek south of the narrows. Other squid colors that work good for me are Army truck, Purple haze, and coyote spoons. Never been much of a herring fisherman but many perfer. I seam to catch to many dog fish on herring. Sometime the best way to learn is just get out there and go for it. If I had the time I would say lets go but I cant find the time now. Go for it, good luck, Buck.