I'll let Carrot Top tell you a little story about his Slammer running to shallow.
The best way to work these lures is to retrieve them slow and on top. I retrieve them just fast enough to get it to kick and then steady from there, even dead-sticking it every so often. I've had a few fish hit it while it was just sitting there. It took me a long time to realize that just because the water temp was only 50 degrees that the bass would still come up and hit it.

About replacing the hooks. I think most people, including myself replace them with Gamakatsu 2/0 round bend trebles.