You get better / faster penetration with ground meat in my experience. Chunk is more work but just doing it for your own use your labor is free.
Your final ground volume will help you determine your preservative amount. Best to er on caution and use more if you are not sure what you are doing.
There is a lot of general info in this regard out there.
You will have fun with this and it will be a learning experience I am sure for you ratcheting up your bait making volume. Tell us all how it works out in the months to come.
Looks to be around 35 # or so weight in the avg bucket. Close?
Did you question whether it was doctored / self medicated by the owner prior to becoming bait
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