Jason,
Like Feral, I've dropped back on line size and leader size. Used to be a religious 10lb guy. But now run 4lb and catch a lot more fish. Sure you occasionally get biten off - but you catch a heap more fish too.
Lure wise. SX40's are a good starting place - I like the 306 colour. I've also become a fan of Atomic Hardz Crank 35's in mid and deep in the GGB colour - particularly for casting at the banks and slowly retriving. Got a 64cm flathead on the Atomic a few weeks back during a trip to Kedron Brook Floodway. Got a heap of bream and 4 flathead that day on the same lure using 4lb braid with a 6lb leader.
My general rule for bream is to have my lure just above the bottom when trolling. So having a sounder is vital and knowing how deep a lure runs is also vital. For flathead I like the lure to just touch the bottom every now and then.
Good luck.
Pete