I don't fish tournaments (yet), but I visit Okeechobee and Toho ALOT-more than the wife knows about at least. I start with a spinner bait. The same one, every time. It's the crappy little green and yellow one you can buy at Walmart for a dollar. Has a silver willow leaf blade on it. . Everytime. No matter what. I play with the presentation for about an hour until I figure out what they're hitting (fast, slow, bottom, top, etc..) then go from there.
My 5 panic baits? A 1/2 oz KVD sexy shad spinner. A 6" senko in watermelon with green and red flake, texas or wacky rigged. A Spro poppin frog. Some sort of okeechobee craw colored jig with a trailer (usually a YUM craw Papi in some color to add contrast to the actually jig). And finally, a Rapala husky jerk in baby bass color.
And I've never been skunked. Not to say I'm amazing, because I've had days where I've only caught one fish. But I've never been skunked. That panic box hasn't changed in darn near 4 years. And won't anytime soon.