I would imagine a furled leader could work, but the advantage is turnover, not something I really worry much about steelheading.
As far as fishing polys, Sure, but why, after casting a long mono leader for dry work, I can't imagine going back to a tip or poly leader or anything of the sort. A rage head or scandi line and 15ft mono leader are all I need for summer dry work. Much nicer for casting
Depends what you mean by dry line Steelhead fishing. If you are talking surface or near surface presentation then yes, poly leaders work well. If you are referring to dry line fishing a deeply sunk fly, ala Bill McMillan, them no, I don't think they will work.
I experimented with floating poly leaders this summer and really like them for top water fishing. They have a little more stick and better turnover at distance when shooting significant line, for me at least. I think the 10' Airflo shine on the end of a 60 or 65' bellied line. Simply loop on 5-6' of tippet and away you go. They are certainly more expensive than a stepped down mono and don't last as long but I did like them. I also tried the 14' but it had a bit too much stick for my taste.
For winter dry line fishing though, I believe you want the leader to sink and the high floating poly works against that. You could use sinking polys but then you aren't fishing a dry line.
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