I usually use a palomar knot for most anything, but i've heard that a rapala knot for crankbaits and jerkbaits help give it a smoother swimming action?  what are your guys' opinions on this?

The Rapala knot is a great knot, but you will only need to  use it with their lures that do not have split rings, like their floaters. Some of their lures have split rings and the palomar can be easily used on those that come with a split ring.

I myself like the palomar knot but not for bulky things like cranks. Sometimes it's a pain to get it around the lure especially with if there are trebles. Not to mention that's one big loop to cinch down.

I use a Palamor Knot on every set up I can.

I have a lot of confidence in the knot and even though I may have to use a lot of line, I believe it is worth it to tie the knot.

I do use an imporved chich knot for drop shot rigs, but otherwise, it is always a Palamor knot.

I use the Rapala knot for Pop-R's and any other topwater or crankbaits that dont have a split ring.  I like the knot and have never had a knot failure using Trilene Maxx and Yozuri Hybrid Ultra Soft.