I fish a heavily pressured lake and hands down to me the best shaky head presentation is a 1/8th or 3/16th ounce Picasso Shake Down with a zoom finesse, trick, or shaky head worm. Favorite colors include: watermelon seed, watermelon red, watermelon candy, watermelon candy red, basically anything with a watermelon hue.
When it comes to rod/reel/line for shaky head I am not like most. I fish it with a chronarch 50mg on a MH Fast 6'9 Boyd Duckett Classic Gold Carrot Stix. The line I use is 15# P-Line CX premium.
The Line is fluorocarbon coated and has a very thin diameter compared to most 15# lines. I fish a lot of dock and brush so I cannot afford to downsize my line while fishing a shaky head.