Heres a good article:
http://www.steelheaduniversity.com/floatnspin.html


Holding back on the float and walking it downstream is a deadly technique. You can cover the water throughly and effectively. I put on a clinic for a few guys (15+) at Reiter this year who pounded the water all morning. Came in got my depth/presentation dialed in, about a foot and a half off bottom and slowly walked it downstream getting my 2 fish in a about 15 minutes. They where laughing at the setup at first, (fools) and after they wanted to know where/how to do it...
Like most i got turned on to the technique after going to BC and watching a guy clean house in front of me doing it. After about 10 minutes of him explaining it to me and a few blades i had a good bearing on what i needed to do. I had ran the usual stuff under my float with nothing to show for it. Couple casts later i had my first player. It works...