Here are some photos of the original and a copy, if you look closely you can see where I bent my lip. Also note how the original bends backwards, which has the effect of lining the lip up further back on the plug, like a plastic swimmer lip. You can see this better if you look at the pictures of other old MasterLures on the
www.shorelinebt.com site. I'm not sure this is important, the prototype I built swam nicely with a standard lip bend, but you can make the bend by making the standard 90 degree bends, putting the lip in the plug, placing the lower bend against the edge of a table and pushing down.
Pdad, the front of your lip looks a bit long (mine seems a tad short). I think I measured the front of the original at 20 mm, but measuring lips to the bend is not exact.
As far as weight is concerned, I wouldn't sweat it, maybe just use 4/0 or 3/0 6x hooks. I doubt the hooks on the original are what came with the plug. They may have been bigger, like on the jointeds.