DG, that's what I got my original idea from. Just went weightless! I switched to red thread and tied it in dark brown or variegated olive/brown. I would put an indicator on about a foot over it, let it plop down next to some weeds, and watch the indicator disappear about every other cast!
steveks has a theory that bluegills cannot resist big, black bug eyes. They love a nice slow-sinking fly. I enjoy a super simple fly that catches fish. Why not combine the three?