Who uses/used this before? Does this thing actually wake or does it crank below the surface?

Depends on how your rod is positioned, tip up and it will wake, tip down and it will dive.

It only wakes and will not dive at all. It floats so you can stop and twitch it too. It is my favorite wake bait and really calls fish up.

Mine also wakes only. Have had success just slowly retrieving it.

Thanks for the answers guys, I just didn't way to buy another wake bait that sub surfaced more than waked