Dan, we do a fair amount of drift fishing on the upper end of Lake of the Ozarks and Truman. We mostly fish a 3-way rig with a big swivel ( some use a 3-way swivel ) tied to the main line then a 12"-18' lighter weight line to the sinker and another longer heavier line to the hook. I use either 25lb or 30lb line on my reels with 20lb to my hook and 12lb to the sinker. I don't use swivels with a snap on them just a swivel. Most people have started using circle hooks... I use 9/0. There's a lot of difference in brands of circle hooks in regards to sizing and sharpness. Eagleclaw are ones that I avoid. The best that I have found are some off-brand Asian made ones that are unbelievably sharp with good size and gap.
I still use saltwater spinning tackle for most shore fishing but like most we use 71/2' to 9' casting rods for drifting with levelwind reels. I use mostly Ambassadeur 7000s and only the older ones that say " made in Sweden " on the side. I replace the factory drag washers with the Carbontex carbon fiber ones as they make really smooth drag.

Look into the Rippin' Lips 71/2' m/h casting rod.... good action for circle hooks and can handle pretty good sized cats and they're reasonably priced... I bought one online the other day for less than $40 to my door. For a reel you might want to start with an Ambassadeur 6000... look on E-bay there will be lots of them but look for the made in Sweden marking. The Catfish special ( the orange color one ) 6500 is made in Sweden I believe and comes with the carbon drag washers from the factory and would be good too.
Tangling with Catfish makes a good drifting rod too so I hear but I have no hands on experience with one.

Using this heavier line have a piece of broomstick or something similar to twist your line around to break it when you hang up.

That 40" Channel is huge... I've been catfishing all of my life and don't remember ever seeing one that big.... blues and flatheads yes .

There have been several 100lb+ blues caught in your area in the last few years. You might want to look into a guided trip on the lower MO. or the Miss. rivers once the water level gets to a safer level.

I have not tried the 'yak fishing but I have a few on LOZ and Truman and know a couple of flats that might be good in the early spring and that are close to a launch site.

Good luck and be safe.

molɔ̀ːn labé skýla