Hoffbosn, there are various options for sealing ,priming etc. Each to their own, as bobp says it also depends on species etc. I build mostly for pike and no wood sealer will stop pike teeth for 20 years!,I seal wood with similar product to wood hardner or sanding sealer for ballasting or water testing, then light sand,then coat epoxy for good seal and good surface to paint. The sealer prior to epoxy also stops expanding air causing bubbles in 1st epoxy coat if using heat gun to bust epoxy bubbles after application. The epoxy base and topcoats are the main protection for me. You can paint directly on to epoxy, personaly I spray a coat of white primer prior to painting and zinsser bin or auto primer works for me,then paint,then several epoxy clear coat. If using water based paint then epoxy over this then no compatability problem. You can dip rather than spray primer,i prefer spray. Personally I dont use basswood after seeing numerous test lures splitting etc.very quickly when pierced. I recommend a lure turner if using epoxy. As for thru wire or screw eye's ,again personal choice but long screw eye's fitted properly are plenty strong and will often shear before unscrewing if you test. The lure in saltys link is thru wired popper and these are built slightly differently and benefit from dipping in oil based sealer to seal thru wire holes.Hope this helps,may be guy's who dip and hang will have info more suitable for your choice of wood and lure type..regards........glider