Matt, good questions.
Science can be simple in some cases... but even if it is simple, interpreting it into action is often more nuanced (like Mike said, risk assessment is a nebulous thing and is very tricky to translate from abstract into real-life implementation)
So, PCBs bioaccumulate. The higher something is on the food chain, the more they are bioaccumulating. PCBs in the sediment get incorporated into plankton, baitfish eat the plankton, predators eat the baitfish... each step up on the chain means more concentration of PCBs
PCBs are fat-soluble, not water soluble. So you shouldn't have a major concern over drinking the water because of PCBs. They are concentrated in bottom sediments and in organisms. (Although, separate argument, in general we should probably favor policies that don't pollute the water, no matter the type of pollutant, since many of them can have protracted legacy issues in the environment). Imagine if we didn't have any PCB issues in LM!
Since PCBs are fat soluble, fish with more oily flesh (e.g. lake trout) are more dangerous to eat, because more of the PCBs are integrated into the flesh, and harder to remove. Think of a good steak with a lot of marbling: it's pretty hard to get that fat out of the steak, which is why they taste so good. This gets down to what Mike was saying about the testing process, if you remove visible fat and only eat fillets, you are avoiding some PCB sources like the belly fat. But, in lake trout that is a bit harder to do as they have a lot more of the oily compounds in all their flesh. FYI when we are asked to provide samples for the health folks to test, we send them butterfly fillets in Indiana, scaled but skin-on.
Life expectancy has some nuance to it as well. A chinook grows so big so fast because it eats a LOT. A 3 year old chinook that weighs 15 pounds could easily have more PCBs in it than a 3 year old lake trout that weighs 4 pounds, because the chinook ate so much more in the same time period to grow to 15 pounds. Assuming they were eating the same thing, the chinook certainly has more PCBs because it ate way more to achieve that large weight over the same time period.
Finally, diet is another compounding factor. PCB levels had been trending down significantly since PCBs were banned in the late 1970s. With the explosion of quagga mussels, which live in the sediment (holds PCB concentrations), and gobies (eat the mussels, absorbing those PCBS) and now the fish eating lots of gobies, there is more bioavailability of PCBs, which is increasing PCB levels slightly, reversing a longstanding decline in PCB levels. So, browns and lakers especially are eating a lot of gobies and PCB levels are higher in those fish than fish not eating as many gobies.