Here's some info I have learend has produced and what I believe has helped me over the years of tip-up fishing...
I always use a leader, I usually use a 10 pound steel leader that is soo thin, it looks like 4-6lb test mono. I usually make my own and make an 18 inch leader into a Quick Strike rig, But when times are tough, you gotta start switching things around. Right now I am using 20lb steel leader I bought from dicks. I try to use black or a dark brown if I can find them. If you are fishing deep. It is soo dark down there it will not matter most of the time. But when you are fishing shallow in clear water, Sometimes for bass it is good to go to a a Floro or Mono Leader at about 8-10 lb test. The only problem is that when you hook into a pike on Mono... He Gone!!! LOL Thats why I always use leaders. I lost my fish of a lifetime on Flouro. The pike was over 40"+ inches and I will not take that risk anymore with Mono. I also lost one about 38"s in IL that was due to a Mono leader... But Mistakes happen and you learn from them. I hope this helps... Larry "Legend075" also lost his Pike of his lifetime with me using 20lb Flouro. Certian Lakes I will fish diefferent depths. For Pike I try to stay within 3 feet off the bottom if im in 12-14 foot of water, Pop Holes Zig-Zagging on the lake like you are running your boat and scanning depth. Hole hop with your depth finder and find that weed line or even some nice weed pockets. This will increase your chances of catching. By the way, If I do not gt a flag within 2 hours. I pull them all up and move. Also make sure your minnows are fresh and lively... Sometimes I will make a fast lap around to your tip-ups and just lift on the tip-up making sure the minnow did not get in weeds. But if there is a fish in the area, this also gets them kicking. I have had great success when I get my minnow active. Once I Put the flag down, a minute later in the past I have stood and watched the flag go up. Hope this helps a bit.
Dave
PS: For your weight, mess around with weights. I try to keep them atleast 3 feet up on the line from the hook/bait, It gives the minnow some room to roam instead of being stationed. Weight size will vary to your tention setting on your tip-up and the size of the bait you will be using...