I bought some hydro-float in the fall for salmon float fishing, and I am still on the fence about its bennifits and drawbacks. I would use it for hardware if the lure is relativley heavy. #3 spinners tend to be drawn up in the water column due to the lines boyancy. It should drift alright, but the large diameter might act as a sail and drag your gear through the run. You may also wan't to add a 3' tag of mono to the end, say with a nail knot; knots will be simplified and it pushes the high-vis line a little farther from the fish. Some things to consider: Hydrofloat is sheilded in a plastic layer so moistening your knots prior to locking them down is essential. If you can stand it, just dunk the whole lot in the river while you tighten. If you don't the outer shell will sepparate from the foam core. In addition to the casting restrictions of its larger diameter it collects dirt a bit, so make sure to keep it clean. Your casts will thank you. I don't recomend the dacron style float stops, as they will chafe the line rather quickly, and it is a pain when they loosen and fall off. Use the Beau Macs rubber stops, or a simmilar product. I have heard that the line will break down due to UV exposure. I have not encounterd this, but then again I haven't put in the time yet. It will be interesting to see what you think.
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Team SRTC
Hand-Tied Steelhead and Salmon Jigs
If it's your only bite...you might as well Strike Rite