I've caught some with it. Not my first choice usually; but it was definitely the lure to have on one trip to one lake. A friend swore by it for that lake and he was right. As a result, I stocked up on a few. Haven't been back to that lake since though and I haven't tried it much in local ponds.
I've caught some nice gills on a bitsy minnow, although when it comes to crankbaits I prefer the "Snap Beans", from Yo-Zuri. They come two to a package, a 1" length, 1/16 oz, and an even smaller 3/4" length that comes in at 1/32 oz. They are the smallest crankbaits I am aware of, and come in a variety of colors.
Although I usually fish for bass, the most fun I've ever had fishing was when I found myself casting Strike King Bitsy Minnows and Rapala CD1's into a school of bull blue gills suspending under a creek bridge. The action was nonstop.
Since then, I've bought every color Bitsy Minnow I can find. That and the CD1's are my first choice of crankbait when I'm ultralite cranking.
Ive got a tackle box full! I love the bitsy minnow. There awsume. I was fishing with my dad and he was casting a bitsy minow while I was draggin crickets. I was embarresed when he was over 20 gills ahead. I had to swallow my pride and ask to borrow one. Ever since then when were not jiggin crickets under a bobber were chunkin bitsys. Dont forget the swivel!