I got an Acadamy H2O Xpress in the red color and added 8 suspend dots. 4 between bill and front hook and 4 behing front hook. They are stacked directly on top of each other. Bait still floats but only rises slowly.

 

Went to a one acre 6' deep pond that I know has at least one 10 pounder in it. Didnt catch her but caught 8 small bass in a couple hours as well as 11 12" Crappie on the same bait. I fished it like a susspending jerkbait and most hits were on the pause. Water was about 42-44*.

 

Anyway it gives me confidece to use it in the big lake.

 

Are there any true suspending 1.5 squarebills?

I haven't run across any "true" 1.5 size suspending squarebills. I have done this with several squarebills in the past using strips, it works really well.