I take a strip of bacon, about 10-12 inches long, cut it into four pieces, then tie a piece in the trap.
Like GB, as a kid I caught thousands of them by hand by wading with a lantern at night. I remember a recent trip to Ute Lake in New Mexico where several of us caught three five gallon buckets of them in about three hours one night by flashlight. They averaged about 4 -5 inches.
I cook them in a large pot, bringing the water to a rolling boil, then add two lemons sliced into eights, along with "Old Bay" (brand name) crab boil. Put the live craw-fish in the boiling water and let them stay until they turn red (reddish-brown). Sometimes, much like cooking crab New England style, I add potatoes, corn and onions and let them cook, then add the craw-fish. Once done, drain the water off, place the mixture on a platter and serve.
I have eat them Louisiana style (tear the tail off and suck the insides out) but I am not crazy about doing it that way. I usually tear the tail off, strip it out and eat it, it taste much like lobster, and makes a good meal if you like seafood.