200+ feet is pretty deep for swimbait fishing. Not that it won't work, but logistically, it's difficult to get a swimbait that deep with any kind of natural presentation.

I am not usually a braided line fan, but the last time I went for rockfish out deep I spooled up some 50lb braid and it was actually quite nice for that type of fishing. I rigged a swivel to the end of the braided line, then attached a 3 foot leader of 30lb test (mono or fluorocarbon, probably doesn't really matter). Your bait will sink faster and you'll be able to actually feel things in 200 feet of water. Plus if you get snagged, you just lose the leader and it's not impossible to break off the line.

As far as lure choice, I would try to find some really heavy leadheads. There are some leadheads made around Morro Bay that come in very large sizes, like 3-6oz. I'm not sure on the brand. The Hammerhead leadheads only go up to 1.5oz. How much lead you actually need depends on current, wind, are you drifting or anchored, etc. But in 200 feet of water, you usually need a fair amount.

One kind of stupid thing you can try that actually does work, is putting a torpedo sinker on the line, then rigging a swimbait about 1.5 feet behind it. It's not the slickest presentation but it does work. I caught a huge cow cod on a rig like that with a Big Hammer on the 12 mile reef off SB in 290 feet of water a few years ago. I'd recommend super gluing the bait to the leadhead when you fish that deep too because if a small fish pulls the bait down and you have to reel it up from 300 feet to check... it kinda sucks.

Bait wise, I'd try a 5" bait. The bigger the bait you use, the slower it will sink. It's a dilemma because you don't really want to catch those tiny rockfish, but it's hard to sink out a 6 or 7" swimbait. Any of the brown/red colors are good for cod.

The last thing is like what fishtrix mentioned, if you are on a private boat drifting, try letting out a ton of line to get more angle in the line. Say you let the bait sink straight to the bottom as the boat drifts away. Wait until you hit the bottom, then let out another 50-75 feet of line. Then put it in gear and very slowly retrieve. You'll be able to cover more water along the bottom that way. You'll get snagged more too, but that general method is a good way to catch fish on plastics no matter what the depth.

I've had the pleasure of watching Larry Heron use this method and couldn't tell you how many times he would get bit as he popped the bait off the bottom and started the retrieve. It's almost like the fish are looking at the bait resting on the bottom and then when it starts to swim off, they jump on it.