Some good tips from the other guys so far....hopefully I can add a little to this discussion.
First, I believe that the amount of bait you use is as important as what you use. If at all possible, I will only use 5 gallons per day and bait every day. This way it creates a competition for the bait and brings the older big boars out before dark. I also run every bait in the same pattern each day....same time and in the same order. This way the bears know when to expect food and develop a routine. I also make a lot of noise while baiting, as well as drive right to a lot of the bait sites with my quad. I believe this gives them a chance to leave the bait before they see me.....if they hear me, fine....if they see me, I believe they may become nocturnal.
As for what I use, mostly sweet stuff. I mix bulk cereal, froot loops, gummy life savers, candy hearts, and sugar cones with pie filling. I prefer a pie filling that is wet and runny. Last fall my best filling was blueberry and strawberry. Mixing the dry stuff with the pie filling makes a very heavy, sweet and aromatic mixture. 5 gallons will weigh about 30-40 pounds. Oh yeah, I don't like to use things like doughnuts and bread. I feel they are too big and have had lots of bears walk into a bait, grab a chunk and walk away....returning to do the same thing and not offering much of a shot. I like to keep my bait in small peices and moist, this way the bear has to sit at the site and eat, giving my hunters a good chance to judge the size.
For scents I use a variety of things. I carry spray bottles of liquid smoke, maple flavoring, vanilla, and anise and spray down the trees and also put up sponges to soak. Like others have said, bacon grease works fantastic as a scent and a bait. I'll take 5 pounds of bacon and fry it lightly. I then take the bacon and hang it from branches and smear the grease on trees. One other thing I'm a big fan of is used cooking oil. I get a lot of this from people in camp after they fry fish....I actuall have a 55 gallon drum for them to pour it in. With the cooking oil, I throw it all over the bait site and pour it on the ground all around the bait itself. Like others have said, they walk through it and get it in their paws, dragging scent all over the place.
As for the set-up. I like to keep the baits about 15-18 yards for bow hunters. I also stack logs in a manner so that the bears can't face the hunter. They either have to be broadside or quartering away. Here's a pic of one of the bait sites.
Hope this helps and I'm sure I'll think of a ton more.