Curious as to how efficient this set up is.  Do the weights stay on the hooks after the worm gets destroyed or fall in the drink leaving only an expensive hook?  Also do the round worm ring weights also have slots for hooks? 

These? They work great

 

For me, its too much hardware in the bend of the hook. I don't have any evidence that it would have poor hookups, but I'd rather the hook not have anything on it besides plastic or a rubber o-ring.