The steelhead authorities agree that after the fly/ drift bobber/ bait has gone through the high probability water it should be allowed to swing all the way till it's not moving any more. Some noteworthies like Lani Waller (who coined the term 'hang down')even recommend letting the fly dangle at the end of the swing for 5-10 seconds as well (and maybe retrieve in short strips). Lani is clearly a patient fellow.
That's all well and good when it's an article in a magazine, but when I'm on the water I'm interested in maximizing fishing time in 'the slot' where I figure the fish are. By the time my bait is getting towards the end of the swing -- and the water is shallowing out -- then I figure it's time to reel up and put the rig back into that more productive water.
The recent trip to Alaska gave me pause for thought a couple of times, however. First there's the case of partner Slick handing me his rod when the fly was straight below us. I ended up hooking up and landing a decent fish. Second was a day later when I'd finished fishing a run and was wading back upstream to the boat with the rod over my shoulder and the line trailing 70 feet below my feet. (I was too lazy to reel up.) POW! The rod was bent double and I was on to a hot 33" chrome hen that took forever to subdue in the tight quarters. I also watched a big buck (that I lost) turn and chase a Corkie downstream 10 feet before eating it. That was a rush.
I'm sure everyone on the Board has similar stories. There's no doubt that if every time we cast we let the drift gear swing all the way and then counted to 10 slowly we'd catch a few followers over a season. We'd also make 30% fewer casts into prime holding water and miss out on the takes of the fish there, too. Your views?