I have only baited for 2 years a few years ago. I had several bears in, shot one with the bow on the first night sitting the second year. Always had cameras on the baits to see what action was happening. I am planning to bait again this year, here's the setup I will be using again.
I can't remember where I read about this bait setup, so I can't take credit for it.
Find a steel 45 gallon drum with a removable lid, the kind with a band that holds the lid down, requires a wrench to remove. I can't remember the number of holes mine has, but 6-10 will do, drill 6-10 holes approx 1.25" in diameter randomly around the barrel sides. Put about 5 gallons of the cheapest dog food (and/or popcorn) that you can find, pour molasses or something sweet on the dog food. Fasten the lid down tight. I added an eyelet on the bottom of the barrel so I could secure it in place. This set up works awesome, because a bear will come in and spend hours there. (video footage of many bears staying for great lengths of time) They roll the barrel around and the dog food will trickle out of the small holes in the barrel, they eat it off the ground and roll the barrel again, over and over. They cant just gorge themselves on your bait food and then leave. Therefor the stay for longer, and come back often. Once the baits are being hit, I would take in about 2-3 gallons of dog food every few days and add it to the barrel. The nights I would hunt, I would take in a smoking hot bag of microwave popcorn and dump it around the barrel. They can't resist it.
Its important to tie the barrel down well, and if possible tie it off to 2 trees to hold it centered in your shooting lane, because they roll it around a lot.