Looks to me like what you have there is a fancier version of a deep diving Shad Rap.I think it will have a tighter wiggle than the fatter crank baits and should do pretty well for trolling. The lighter and thinner the line the deeper it will go unless you use a down rigger of some sort.
Years past when I fished for trout I've caught them on small Shad Raps,which tends to be a very good bait for a variety of game fish. Like any bait for any game fish, were you put it is as important as what it is.
Crankbaits come in an astonishing range of styles and action types,tend to be pretty depth specific,and it's easy to accumulate a pile of them. I'm mostly talking bass fishing here in the northeast where they can be used from very shallow, to intermediate and deep depths. Which one gets grabbed depends on the depth at which your structure(and the fish) are located.
The general rule for largemouth bass is you don't want to throw a crank bait unless you can hit structure with it, to get fish-triggering deflection and erratic action.
We use them frequently but there are seasonal patterns where they really shine. From ice out through late pre spawn for largemouth bass i would sooner stay home than fish without a Storm Wiggle wart rigged on one rod....that bait has won a lot of bass tournaments in early spring with water temps in the 40's and 50's.
On big lakes in the post spawn, breeder females will pull out onto main lake structure and suspend, resting,and ignore lots of offerings, but will come to a Norman DD 22 as it bangs off the structure, but won't move 3 feet to hit a jig. Tough time of year to collect a big bag but a DD 22 can make your day for big post spawn females.
Avid crankbait fisherman can sink a boat with boxes stuffed with the things. I carry what I need based on seasonal patterns and preferences and this changes a bit from season to season. For bass, you will do better throwing carnkbaits with a tighter, more subtle wobble during cold water periods.
Start mixing in other species and the subject gets pretty complex.
But buying crank baits is a lot of fun! Like trying different bullets and cartridges.
