I think those aspirin heads are made to cut the current and get down to deep water quicker. One easy way to make one is take a regular round jig head and hold it against a concrete floor and hit it with a hammer, flattens it out nicely. I think Billy fished mostly Dale Hollow and deep resevoirs like that. As far as the bear hair, it's got a good color but it's so darn expensive it's just not worth it.
As Al said, Football heads are good for rocks, round heads are good all around, and I use a "walleye head" from Do-it molds for all my swimming jigs. I always bend the hook a little bit ever so slightly. I like to take a pair of needle nose pliers and place then in the bend of the hook and barely squeeze...it actually increases the bite of the hook, making a 1/0 hook into a 2/0 size bite. I also bend the point slightly up, this increases the hook up percentage, it also makes it easier to get snagged, so less is more. Like Ron said, the light wire hooks can be freed with a steady pull and straighten out the hook so you don't loose the jig. There is a debate among fisherman whether a light wire hook or a heavy wire hook penetrates with less pressure. My opinion is, with both point sharpness amounts being equal, the heavy wire will penetrate better. However, being able to straighten out the hook when snagged is a big bonus. These new ultrapoint hooks seem to hold the point so well they can withstand several snags.
ps. for me this was long winded, but the Oscars always bore me to death