that was actually my first time going to AI. i went with Hat80 and Shaggy met us there a little later. as for bait...fresh bunker/menhaden/alewive and fresh/live peeler crabs was our bait of choice for that trip. bloodworm will catch you some kingfish though. personally, i've seen black drum, bluefish, flounder, kingfish, shark, skates and rays caught there. i assume there are other different species to be caught. might need to ask a more seasoned angler of AI.
i've heard it is pretty slow right now. i guess i was fortunate to have gone when i did. i believe you do not need a license to fish the ocean, but you may want to check. there are also fees for driving onto the beach. hope this helps a little.
fish-on