Here's one for you freshwater guys: lake or river?
I've always preferred river fishing (from bank, canoe, or kayak). Especially if it's a place that you've frequented for years, you can learn where certain species hang out and what they like. For example, about 200 yards up-river from my family's cabin on the Delaware are some rapids followed by an area apx. 50% deeper than the average (average depth there being around 12') -- but still relatively swift -- for that side of the island. So, bass hang out in the deeper water waiting for smaller fish and other prey to get dragged down the rapids. Guaranteed 6-7 keepers a day in that spot. Then, about 400 yards down-river is a convergence past the islands where the current slows to a crawl and it drops to about 30' deep; so that's where the walleye would be. And between Dildine Island and other smaller islands is a shallow, brook-like, area with a few holes where larger species spawn, and pan fish (sunnies, crappie, bluegill) tend to stay -- since it's safe from predation.
Seriously, more important than knowing your bait and tackle is knowing your quarry and its preferred hunting environment. That being said, I own sever Ugly Sticks and Shakespeare as well as Abu Garcia open reels.