Since the Carolina rig keeps the weight off the bait but still at the bottom, this rig can be adjusted to be used in colder water when the bass retreat to the bottom.
Image 2 shows how you can use a swivel, bead, and a sinker to upgrade your favorite jerk bait rig, maybe a Rapala or something like that, to a nice deep water rig.
Cast this one out and let it pull real slow along the bottom, pausing to get the bait to bob up a bit, and you're sure to get some bites even cold water. This works well in not-so-cold but deep waters, too, but probably wouldn't be my first choice.
Anyone tried this out early in the season before the waters warm up enough? I've only tried it once or twice and don't really remember getting many bites with it.