I believe that good fishing line is very important. Don't use cheap line if you want to catch fish. Stren & Trilene, along with some other premium brands, are worth every cent.
I use 2lb or 4lb line, depending on where I am. Lite line allows you to cast farther, and is less visible to fish, which is why I try to use the lightest line possible. Landing fish is easy, it's getting them on the hook that can be hard.
I also use fluorocarbon leaders because fluorocarbon line is less visible than monofilament line, tough, and easy to tie knots with.
Under certain circumstances, I tie the hook directly to the end of my line, without a swivel. The fewer knots you have, the less likely it will be that a knot will fail. Unfortunately, fast water often puts twists in line which is why I usually use a swivel.
No. 8 Baitholder hooks seem to work the best for most baits. I prefer Gamakatsu hooks over Eagle Claw because they are razor sharp right out of the package. Eagle Claw hooks are less expensive, but they need to be sharpened for optimal performance.
Sun or rain, hot or cold, worms consistently produce fish . I like butter worms because they stay on the hook well and are not very messy. Otherwise, I believe that all types of worms work well.
Berkley Power Bait also works well. I'm not convinced that the color of Power Bait makes a big difference, but I'm not sure. This stuff is great because it's always handy and never dies on you. Unfortunately it smells bad.
I can clearly remember looking into a pool with 20 trout in it and picking up 8 trout on worms, then 6 trout on eggs, then 4 trout on power bait. They were all very selective in the bait that they took. Why were these fish so unpredictable? I have no idea, but I learned that it's often more productive to vary your bait.