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Caught a 7#plus dogfish once. Left it on the ice. Three days later it was untouched with not even a coon or crow track near it. That oughta tell ya something about it's fitness for the table. Boatload of fun to catch though...
Also, forgot to mention, I've heard dogfish have a lot of mercury in them since they are usually a top predator. I'm pretty adventurous when it comes to trying new fish, but one more reason to stay away.