USMCfisher check the forum at http://www.pensacolafishingforum.com/
It has a lot of guys who fish the Pensacola area. And check out my article on sheepshead fishing http://www.squidoo.com/sheepshead-Fishing-tips-and-techniques
Sheepshead are great fighting fish and taste good too. Redfish will eat just about anything, so catch some small pinfish and use them for bait, or if you can find them live shrimp or Greenies work well too. You can also try lures for redfish. A bronze spoon is a favorite lure of many anglers, though I prefer the crocodile type spoons myself. And a red jig-head with a white grub body/pink tail works really well.
The best all-around bait you can use while inshore fishing is a finger mullet of about 6 inches, everything from trout and flounder to redfish and spanish mackerel will eat them.
Hope this helps, and feel free to ask questions anytime