I throw them in the freezer and then donate them whole to a local organization that feeds them to injured birds of prey such as bald eagles and osprey. The organization here is known as The Raptor Recovery Center. It helps get rid of more fish than I care to eat in a years time.
I agree, flavor wise LMB are a little bland, but that can always be cured with a few spices.
I personally havn't ever done this but I know a few individuals that will cube them up and toss the pieces back in the water for the remaining LMB and Channel catfish to recycle. You would be suprised at the number of large LMB's that can be caught on fresh cut bait.
