Personally, I'd leave it on the float rod reels and forget about the rest. I've set up two rods with spinning and two levelwinds for float use with clients, but I don't care for it in other instances.

Why? In other types of fishing, I think some stretch is a good thing, you're gonna pop lots of leaders and bend plenty of hooks on spinners. I also think it will cost you some fish plugging from my experience with it. Other problems include decreased abraision resistance vs. high end mono and, difficulty in breaking off easily when needed (drifting) and need for more than simple knot when retying terminal tackle.

My 2 cents