I've used chicken, canned cat food, frozen salmon heads, fresh & frozen salmon carcasses, fresh ling cod scraps/carcass, collars etc, complete herring I put through a meat grinder and the commercial pellets. Had the least luck with the chicken & cat food. The rest all worked. IMO the best bait would be tuna heads w/ the gills attached. Bloody, oily and tough. But finding them up here is a real challenge. It's what we used back in Hawai'i [for crabbing].
Usually I'll use the ground up herring or pellets in a cage for a scent trail and then hang carcasses, collars etc to "keep the crab" in the pot. I watched "Deadliest Catch" and that's what they seem to do so I copied it. The pellets work great, but can be pricey; about $8 for a bag. But for long soaks they're efficient, clean & easy as Tom noted.
I weight my pots with steel re-bar and zip ties. Cheap and it works. I paint them with an anti-rust coating I use on cars and it works great. I also fabricate a "mast" out of PVC with a donut weight on the bottom and a bright yellow nylon-material flag on top with my red/white float in the middle. SO much easier to find our pots that way and the masts unscrew apart into 3 sections to make storage on board easier. the regs say you can use any flag color/shape etc. as long as the floats are white/red.