After a helpful discussion on the FishingNetwork forums, I have determined exactly what the classic lure I found at Puddingstone Reservoir is! It is a Spinno Minno Lure, produced in the 1950s and 1960s by Pecos River Tackle Co./Uniline Bait Co. The design is unique and close inspection reveals that it was most likely one of their earlier generations of the Spinno (based on the spinner hinge design). Check out this great collectable lure website for more information on the Spinno Minno Lure:
Be nice.