I've made swimbaits using 200lb braid for hinges. The biggest problem I ran into was the clear coat process. There is just no way to keep the lure from flopping every which way and also no way to avoid the top coat traveling onto the braid. With metal hinges you have some small control, plus removing clear coat from metal hinges is quite easy - just get something small enough to fit into the gaps and scrape away. With braid, one small mistake and it's bye-bye hinge. If you construct your lure with a product that is water resistant from the start, that would help alleviate the final part of the lure process.