Kevin,
Anchoring vs. back-trolling vs. drifting has more to do with how much water you want to cover and are there other fishermen also fishing the same spot.If you have a hole all to yourself and you want to spend some time there then anchor up.However it is not to polite to anchor up when others are trying to fish the same waters.
One aspect of not anchoring is to move the boat from side to side and up and down in the hole to cover it thoroughly.Sometimes the fish won't move very far to strike a lure, but if you put it right in front of them the will.
I use a drop line of about 10" to the sinker and a leader 4' to the Kwik-Fish with good success.Kwik-Fish work better in slower water than Flat-Fish and vise-a-versa.Good Luck,lester