I've been thinking about this a lot recently as our better lake trout waters are about to ice up here in CO. I had one successful open water trip (my only laker trip of the year) right after ice out when I bounced an ROF 12 Hudd on the bottom, just as you would a big tube. Here's that fish:
I think that if you took an ROF 12 or 16 you could fish it just like a tube (very subtle, slow taps on the bottom), but if the fish were suspended, as they often are, then maybe an ROF5 might be the way to go. One thing I've been struggling with is deciding on a rod to use - there are some fairly heavy laker ice fishing rods offered by Thorne Brothers, but I wonder about cutting down an old Ugly Stik casting rod to about 4' long to get something that's tough, yet flexible enough to deal with a rampaging laker under the ice.