Hi Peter
I think both the position of the hook and the need for wire or not depends a bit on which species you are targeting. I regularly use smaller lures with just one single hook but it is usually an assist from the towing point. And using kevlar and not wire. The theory being that most of the predators I am targeting tend to strike at the head of the bait and therefore a free swinging single on a light cord attached to the tow point is most appropriate.
This will only work on some lures though. On others it kills the action completely. Also the complete absence of any tail hook can really effect the action of a stick bait. That's something to be aware of whether you are using a tow point assist or the rigging that you suggest.
One thing is for sure, getting rid of the two treble rigging will be both better for you when landing the fish, and more importantly, will cause less damage to the fish itself!