Thanks for the input. I will try (1) balancing each segment, (2) lighter material like polypropylene (density 0.9 g/cm3) (3) remove the fins, and (4) on my next version which is an 8" I will make more of a v-profile. One thing I did notice is the bait would switch from 45 to 135 degrees and vice-versa if I drastically changed the retrieval speed. Might be interesting to perform a formal design-of-experiments, although I would rather get it swimming correct first and then begin a DOE to produce fine-tuned results.
I may keep one or two with the side angle swim, they actually mimic a severely injured fish but its not the kind of swim I want all the time.