If you are going to fish live bait, fish live bait. I focus intently on whatever technique I am using at the time, because fishing two techniques at once results in sloppy presentation most of the time because you will be worried about the other rod, or it will get hung up, etc.
If I was going to fish live bait, I would have quite a few rods out covering different depths, like striper fishing.
Also, live bait doesn't listen as well as an artificial when you tell it to do something.