Float fishing is kinda like fly fishing - you can be as pure or bastardized with the technique as you like.

The "pure" float fisherman is using a light spinning set up and mono straight to a jig. Slap on a fixed solid cork, Thill or other balsa type float and that's it. Very effective. Especially in low clear (subtle) waters.

The "bastardized" float fisherman generally will try to use their 9+' baitcasting setup with a fixed float, either on mono or braid. The line ends at a swivel or an inline float lead, with a leader to a float, bait, etc below that. Floats used are the dink floats, West Coast float, a cork, a beer can, etc. Whatever works. This works great in all high, dirty, and "easy" to fish water.

Take it a step further and one can use a float to assist in their presentation of their bait while they are floating down the river - Flydogging. I don't really call this "float" fishing, as the float is used more as an indirect tool to help slow down your presentation, keep your stuff from hanging up on the bottom, etc. Painfully effective technique, especially when moving down a river in a boat.

I let the river, who I'm fishing with, and fish dictate what technique I probably should be using. I think learning all the ways how to effectively float fish with the different types of gear and floats is a good set of skills that any steelhead fisherman should have. Might not be my personal favorite way to fish, but you will find that there are just some days that only a float technique will really work out best.