I think typically punch bait is going to catch the smaller, "eater", size cats. Occasionlly you might pick up a bigger fish but to target the bigger fish probably should switch to cut shad or sunfish.
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"Life is a matter of luck and the odds of success are in no way enhanced by extreme caution." - Erich Topp, German U-boat Commander, 1943.
When in doubt, set the hook.