Chad1 -
Last winter I spent a day out off the peir in Petoskey, I presume you were in pretty much the same location. I did talk to a couple of the locals when I was there and here is what I can remember (it is a bit fuzzy).
Only thing they were using was single salmon egg. If I remember correctly they had a slip sinker setup, to minimize resistance when a fish picked up the offering. Up top they had a slip bobber (I would think the round foam ones would be the ticket .... you could cut them down to a hair trigger).
The locals were using a pretty ingenious set up to place chum 90' below them also. They were using a broken rod (reel seat + one eye) with a level wind reel on it (I think they had wire line for additional weight). To this they would attach one of the metal 'Band-Aide' boxes. The bottom was cut out of the box and a stiff wire bracket was also attached ... then the wire line attached to the bracket. Essentially when the box is lowered in the water, it is upside down ..... so they would fill it full of perch spawn, small shell macoronni, etc .... lower it to the bottom ..... give it a couple of very hard pulls .... the hinged bottom pops open (the original hinged top of the band-Aide container) and all of the contents are spread in a small area 90' below you.
I hope you could understand my discription. Now a couple of thoughts, the day I was out there I caught nothing! I did detect a couple of 'half-hearted' bites though. The locals caught nothing either ... so I did not feal so bad.
When you get this all figured out let me know and I'll make a run to the In-laws for a weekend .... and you can teach me how!!!!