If I wanted to fish the Fat Ika in deep water what would be a good sized jig hook to use? would a 1/4oz or smaller size work okay?

I was also wondering if I should rig it the same (skirt up) for deep water weighted presentation or should I rig it with skirt down? I'm not sure if that makes a difference or not...

I would go weightless and just let it fall.

If needeing extra weight add a small splitshot to the head of the skirt.

-WM

I would go weightless and just let it fall.

Absolutely. I heavy cover I use an insert weight 3/32

http://www.basspro.com/webapp/wcs/stores/servlet/Product_10151_-1_10001_15702_100010003_100000000_100010000_100-10-3

The beauty of the fat ika is how it moves when fished weightless.

You will never hear me say that any bait, especially the outstanding GYCB's can't be fished any way you can think of, but personally for  really deep water I would go with the good ole fashioned jig n pig.

I would go weightless and just let it fall.

Absolutely. I heavy cover I use an insert weight 3/32

http://www.basspro.com/webapp/wcs/stores/servlet/Product_10151_-1_10001_15702_100010003_100000000_100010000_100-10-3

I find a box of these to be way cheaper and work pretty well if I need to add weight to a "weightless" plastic.