I've only got a little to add to this thread. I was taught, by my Dad, how to fly fish and how hook sets were different than with other fishing methods. When hooking a fish on a fly rod, I rarely use the rod. Depending on the size of the fish, hook setting with the rod can leave you with the rod at 12:00 or more and then you have to try to recover that rod position without losing tension on the fish.
rather than using the rod, the hook set come from a hard pull of the line hand. You can move about 3 feet of line straight through the rod guides without moving the rod tip.
This accomplishes two things. One, if you get the hook set, you've got the full swing of the rod to keep tension on the fish ... fight on!!! If you missed the hook set, the fly is still within striking distance of the fish, or another and you've got another chance.
That's just how I was taught ... and Dad was teaching me how to fish for panfish and bass, not trout, so I don't know if the same principles will apply.