This topic has come up any number of times within various threads on furled leaders. Now that we have a Furling Forum, it seems it is time to devote a thread just to this topic.

It's clear from past discussions, that the majority prefer floating leaders for fishing dry flies and all around use, and that a small minority prefer leaders that submerge for all around use.

Personally, I prefer a thread furled leader that submerges for fishing for trout on moving water. My leader material of choice is 210 Danville Flymaster Plus. This material submerges, but does not really sink. It is possible to fish a size 20 dry fly, at least on fairly soft water, with this leader when it is fully submerged - it goes under but it does not sink the fly. On the other end of the spectrum, it is possible to change out to a suitable tippet and fish a couple large weighted nymphs under an indicator with the same exact leader - may not be too pretty sometimes, but it gets the job done.

There are situations where I can see some advantages to a floating leader. Maybe a good discussion here will lead us all to be more flexible in how we approach making and fishing furled leaders.