I've had a shack on south shore and callander bay for the past 11 years and spent countless hours and over nights on the lake. For the most part I agree with the perch theory. If there's huge numbers of perch, walleye aren't around. If it's been dead, then you start running into the odd perch in the afternoon, chances of a good night bite are high. Most of the perch were small, a few worth keeping, and they are tastey!! When there's perch are hot under my shack, I set a big pike line, as they aren't far... So far it's been better than last year's ice season, but no where near previous years. I too was wondering about being at or near a cyclical low. Summer fishing has been VERY good the past few years, maybe cyclical, maybe just getting to know it better, but great either way. I'm gonna try to get up there again this weekend. I'll continue with updates as i get them.
Giving the usual spot another try, but will likely move our shack on C-Bay before long..... We'll find em!
tight lines,
Thrasher