You gonna be keeping the fish? Can't beat powerbait or wax worms with a marshmallow on a sliding egg sinker setup if so. Slip an egg sinker (1/4oz should be fine for most lakes) onto your main line. Follow that with a snap swivel, then a 12 - 16" piece of 4lb leader of whatever line you prefer. Tie on your hook, paste it up with a small piece of powerbait (enough to cover the hook), give it a quick dip in the water then throw it out. Hang a bobber on the line between two rod eyes (make sure you have one that will allow the line to slip through freely) then just sit back and crack a beer while you wait. If you will be releasing fish or don't otherwise like to fish with bait, spinners and spoons work well. The retrieve speed is probably the hardest part - I usually just play with the speed and pattern of my retrieve until the trout are hitting, then continue what I'm doing. I don't fish much in lakes, but this is pretty much the pattern I use when I do!
A bad day hunting rabbits beats a good day of anything else!