Nice to have you here Hang Loose,
The guys are right, you do have a lot of options as far as the type and quality of equipment you buy. You can get very cheap jigging rods in packs that don't have a reel on them. These are a cheap alternative, but remember you're getting what you pay for. My father in law uses them on his 1 1/2 acre pond and doesn't need anything more than that, however, if you get into a big fish (3lbs or more) you don't have a lot of margin for error when you're playing them in by hand. The other option is to buy a couple of rods that will be compatible with a small ultralight reel, I like the Pfleuger Trion UL because it's durable and I can use it for panfishing in the summer... don't forget that your ice rods are great for jigging docks in the soft water season.
Also you can pick up a set of tip-ups for very cheap... I recently got three in a pack for $10 at Outdoor World, but I have some that are upwards of $20 a piece that I use at my father-in-law's place.
As far as the Shanty... if you can go in your house to warm up you'll only want something basic, when I was a kid we actually used refrigerator boxes, and I have heard other people say this too. I will however be bringing my Clam Expedition to the Indian Lake event that has been rescheduled for mid January. You'll be able to see the advantages of the shelter and you can come in and fish for a while with my stuff if you want.
The auger is by far the most important thing for you to be concerned about when you're getting started. You'll want to be able to bore a big enough hole for whatever species you're after, but keep in mind that (Bigger hole = More labor)
I use a Strikemaster Mora with a 6" diameter, I had a 7" before and this one is plenty for me. I got it for $60. The next step up in the Strikemaster line is the Lazer and it's basically a $20 jump in price. They have a better blade system, but for me it wasn't something that I felt I needed.
Lures are pretty simple. Anything that you've used for panfish that has a small profile is good for those same species in the winter time. If you want to go for something bigger you can usually just change the bait you're using (hook size allowing.)
On ponds I almost exclusivly use small panfish jigs tipped with waxworms, spikes, maggots, or mousies. Don't be afraid to load the hook up!
Good fishin'
RatherBe
