Being that I only have 2 setups, I use 10-12 pound mono for pretty much everything (including lipless cranks). I've only used BPS Excel, Berkley Trilene, and Spiderwire. Of those 3 Spiderwire seems to be the most sensitive and its really hard to break. As for knots I always use the improved clinch knot. I know how to tie a palomar but for me, I feel like the improved clinch is easier.