Otis:
Shad do not keep well , they seem to die very quickly, some almost immediately after taken out of their original waters.They wouldn't last to put a hook thru them.We use cut shad for Catfish, and Burbot(Eel Pout ) on Lake Erie during the warmer months, and they work great
I mention this, because I had two bait shops, and I still dip lots of minnows. Just yesterday, small shad showed-up in the net every third dip.Believe me if they were able to hold up, I would load up on them for the ice season, I am sure the Pike would just love a 3-6" shad, especially if they never saw one before!
Alwifes, on the other hand do hold up, however there are some Finger Lakes, where you can't use them; check the DEC booklet
Bear_Lake_Bob