the recommended carolina rig shown on the back of the MAGIC CATFISH BAIT bag just never works.

Depends on where I am fishing and what for...

Weightless Texas rig is my perferred way... Carolina rig is a great rig in the right situtation.

http://www.bassresource.com/fishing/bass-fishing-articles.html#techniques

http://www.bassresource.com/fishing/Texas_Carolina_bass_fishing.html

^

Check here for some info.

Then again if we are talking catfish specific I would make sure you use the proper gear and tailor your rigs to fit your environment.

I would use a slip sinker rig or slip bobber depending on conditions. Normally with a circle hook.

x2 on the slip sinker. Catfish are bottom feeders so you have to get the bait on the bottom. If you're using a C-rig, that bait has the potential to float.

don't, nothing beats chicken liver, shad, or bluegills around here

Not sure if it works for every lake, but if you take a cup of chicken livers and just let them sit out in the sun till they start to smell a little, the catfish seem to hit them harder and more often.