Just to preface this, I kind of stumbled upon this one.  And I'm sure others have tried it.  I've rigged one of the original Zipper worms, 5", with a biffle style jighead.   Did really well on the bass the other day here on the Potomac.  Swimming it through either hydrilla or coontail on the bottom   The jighead gave it a subtle side to side action, and the fish were just flat out killing it.  Small sample size, and just one day, but I'm going to be throwing it again in a few days.   It was a pack of one of those plastics you have had stashed away for 15 years, and decided to bring em with you.  

I'm rediscovering these baits too.  These ring worm baits have some clever engineering to them.  The small diameter 'spine' of the baits allows them to have excellent action while the rings bulk up the profile without compromising action.  I've been punching, dropshoting and wacky rigging the Lake Fork Ring Fry Worm with good results.