Wondering what size weight is on the Moaner Rage Rig hook. Is the Rage rig primarily a shallow water presentation? At what depth does it lose its effectiveness...?

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They have several different weights for the hooks. The rage rig I believe is a 4/0 1/4oz weighted hook.

Their 1/4oz Hooks run from 2/0 to 6/0 in size... but they have hooks weighted from 1/8 to 3/8 in a variety of sizes including the new weighted Stick'r which isn't an EWG style hook. It's for thinner dia or less bulk bait styles.     

The Rage Rig has no specific depth restriction.