Been there, done that

I set my drag pretty tight, as tight as I'm going to need it when I hook up. It doesn't bother the reel at all, at least the 1598 1/2 Pflueger Medalist I use, to strip line against a tight drag. I still have the raised rim for palming the fish.
When you have one clean you as that one did here is the niftiest trick in the world - let him go until he slows down or stops (helps to have 200 yards of 30 pound dacron on the reel like I do) then feed out more line. Your fly line will float downstream past the fish, and the downstream pull will make him change directions and head right back up to where you hooked him. I had a 14 pound fish come back up through a hundred yards of impassable rapids when I pulled this trick one time, and I had another come out from under a log jam 3 times before I wore him out.
The other thing I do is use a 34007 Mustad stainless steel hook. There is no way any one of these puppies will ever straighten out or break before your leader does. They also stay sharp when dragged on rocks way better than regular steel does, and your flys never rust. Always pinch the barbs down on these, so the fish can throw the hook if you bust him off.
It's so cool to even hook a fish on a fly that I count the one's I lose just as much as the one's I land
