I'm buying a flipping setup and am wondering what the best baits/ techniques are for flipping 

As far as lures go, your favorite texas-rig bait will work, with most seeming to prefer creature baits over worms for flipping.  Jigs are also a solid choice.  If you're punching grass, more compact craw-style lures work better so the appendages don't get wrapped up in the grass on the way down.