I am 2 years on from where you are now, minus the tournaments. I picked up mega live basically 2 years ago over the winter. My intention wasn't to 'scope' bass, but to be able to see structure and fish in real time to know I was fishing the right areas. Once I got comfortable with that I then moved on to fishing for the fish on the screen. I'm in a kayak, so moving fish, a lighter moving boat, and changing wind make it pretty tough but it can be done and I've learned a few things in the process.
Getting started, get a bunch of practice just playing with settings. Different water clarity/turbidity, depth, and bottom composition mean adjusting settings. The depth setting and range settings impact what you're looking at. It's great being able to look forward 80' or more, but unless you are using a big screen (16" plus), 80' out and 30' deep on your screen means your bait is going to be tiny and tough to track. Same for fish.
Different baits have different profiles on the screen and that affects how well you can track them. Big vs small is obvious. Soft vs hard baits make a difference as well. A smaller soft bait like a 2-3" jighead minnow might be the toughest thing to track (its possible though as I do it for crappie). To that end, know where your sonar cone is. For my megalive, it's not a wide path. The easiest way to track a lure is to have a heavy splashdown which creates disturbance and bubbles and then you can track the bait as it falls. If you miss the splashdown, it can be tough to find your bait until its too late.
In terms of specific baits, you're on the right track. A jighead minnow is the most straightforward. If bass are feeding in the open (or even just chilling but open to eating) it's a fast way to get a bait in front of a fish. The right weight and sink rate is important. You want it to sink fast enough to get down to the fish before they move but slow enough to stay in the strike zone. Color and profile seem to matter less to me so long as you're pretty close. A jerkbait is another good option for fish that are a little slower or more reluctant to feed. The stop go can trigger bites that a jighead minnow won't. A dropshot is a good choice because sometimes fish are just on a finesse bite. And you can see it well in the water. If bass are relating to the bottom a dropshot is a good choice, though keep in mind they are harder to find and see. An A-rig or a spinnerbait are quite visual on FFS but I've never had a fish hit one of either fishing them that way. One thing I have had work though is crankbaits and chatterbaits skimming deep submerged grass lines. If you have a defined grass line at (for instance) 16' deep in 20' of water, it can be tricky at times to know you're just skimming it. With FFS you can watch the bait and keep it right on the edge of the grass.
The thing to remember with bottom contact lures like texas rigs and jigs is that you're not necessarily fishing them to specific fish on FFS. You're fishing to a brush pile or stump (for instance). Often you won't see the fish that's in the pile and you're just using LS to ensure your bait is in the zone.
From a time of year perspective, you still have to understand where the fish are. If you're on a shad heavy lake and the bass are generally following shad then you need to find them and how the bass are setting up. For me, a lot of my lakes are bluegill and perch heavy for forage and also very weedy. That limits FFS effectiveness in the summer when there is a thermocline set up at 15' and grass grows to the surface from 20'. FFS is only effective for me then if there are cruising fish in the open over deeper water or in places that don't have the grass. From ice out until May when the grass comes up though its a good tool.
Finally, keep in mind that even if you do all of the above right- you've found the bass, you can track your lure which matches exactly what the forage is, etc- a lot of times the bass just don't want to eat. I've wasted a lot of time casting to fish that just didn't want anything. You'll have to figure that one out for yourself but eventually you have to cut your losses and move on.