I'm going to be fishing some big rivers this fall and don't know what the rules of engagement are. Say I'm in the middle of a 100 yard-long pool drift fishing for steelhead. There are anglers above and below me in the hole, and new anglers are entering the hole at the top. Pretty civilized all around. Now I hook up. What happens to my 'rights' to my spot in the line if:

a) I stand where I am and play the fish for 20 minutes. Presumably, everyone doing the cast-and-step routine is going to be moving down (while giving me a wide berth to play my fish) while this is going on.

In this case, I assume I resume fishing from where I landed (or lost) the fish.

b) I chase the fish up and down stream before releasing/ losing it.

Now where do I go? Back to where I hooked it, back to the top of the hole (end the line, bubba!)or some place else?

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Bonus question for Hawk: If the muskies are hitting on black poodle puppies and I only have white ones, do I lose my place in the run if I go to the car for a can of black spray paint?

Fishing the "big holes" usually means standing in one spot waiting for a strike. It usually also means, somebody casting over your line or crowding you. Heaven forbid if you hook a fish, you will have a half dozen new friends gathered around asking questions and then eventually choking you outa "your spot."

If you hook a fish and it takes you down stream, by all rights you should have your spot back.

Im sure there's some Reiter Rats in here who can explain the complete process.

Snagly;
It's kind of like being in a bar, if you get up to take a leak, you should still have your spot when you get back. (not that catching a fish is like takin a leak!).
Even combat fishing at blue creek you could get your "rock" back when one lined you down the clay bank.

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Give a man a fish and he eats for a day. Teach a man to fish and he will spend the rest of his life drinking beer on a boat.

On "those" rivers, you go back to the top unless the other anglers tell you to start in where you were.

At Rieter you do not lose your spot. But if you're releasing fish, and are standing on a good rock in the meat of the run, then it would be proper etiquette to relinquish the rock after you've C&R'd a limit.

Fish where there is no competition for the "rock". Be original.