Quivera, do you have any Skipjack herring in the streams where you are? Those are really close, size-wise and appearance, to American Shad like what is pictured.
Honestly, though, I'm like you. Shad = cut bait. For that matter, so does Skipjack Herring.
Sorry if I upset any fly-fishing purists. I'm an equal-opportunity fisherman........I do just about everything.....