Len,

I'd love to hear how you'd fish the hole. But until then, here would be my approach.

Yes, I'd likely be in a similar position to the pictured angler. If I were really feeling ambitious (in other words, willing to change flies for a single hole), I would strip a streamer through a couple of times. Mostly though, I would make some repeated drifts with a nymph rig, trying to make sure that I got a drift along as many of the lanes as possible. I would only go to dry flies if the fish seemed very active and I thought I could get a good drift without drag from that position. Under the bright sun, stealth would be critical, so I would be careful not to get too close, and I would likely cause problems for myself with either bad casts or fly line drifting over the good water before the nymph, or both. But downstream presentations are tough, and moving to the high bank would probably be too exposed of a location.

For spin fishing, it would be similar to the streamer/nymph approach, first with an inline spinner retreived fast enough to make the blade spin, followed by a small jig drug and bounced along the bottom.

With bait (worm), I'd likely just use a little split shot and drag it very slowly along the bottom.

Regardless of the approach, unless the hole was showing signs of having many eager fish, I wouldn't stay after the first or second fish, or more than about 10 minutes if there were no bites (and the whole time keep saying to myself that I've stayed too long).