David,
It has been quite a few years since I fished Chincoteague but am sure that some patterns we used are still successful. Try lauching at Capt. Bob's and fishng the channel right out from the marina. The Queensound Bridge (out and to the right from Capt Bob's) can be good at times. Most typically a place called Four Mouths I think it was often had some action (go left out of Capt Bob's toward inlet).
Basically keep in mind that the best bite is generally on a moving tide and best of all when wind and tide work together. Am sure that if you stop in at Capt Bob's to get some bait and launch that they can fill you in on the latest. The standard squid/minnow combination is probably as good as it gets for bait (unless you want to vertical jig for them which we used to do with lead head jigs but you need a trolling motor to do this)
Good Luck,
JJT
Enjoy those days on the water but take good care of it too because we're just borrowing it from our kids