I have not tried the drop shot rig with a fly line. I wonder how it would work for a vertical presentation, whether anchored up or drifting/kicking along and bouncing the bottom. The typical bare hook would be replaced by a fly with lots of action. The weight could be a simple split shot. The rig would not be cast via the normal casts, but rather lobbed or just dropped down as line is let out. I would be interested if anyone has experimented with this set up on lakes. Also, check out all the other knots at the NetKnots link.