It works
Eric,
I use this method a lot, it works so good that on my recent repower of my boat I installed a trolling valve. I now can troll a speeds as slow at .5 knots. You must stay at the wheel but, it works great. The largest mako trolled this way was over 300 and a thresher well over 400 not to mention countless blue sharks.
Nothing works better that being on the drift, providing that you have 15 knots of wind or better.
When I troll or power drift. I remove all floats from the lines. I like to skip bluefish filets with sraight set hooks, so they don't spin. Squid work very well also. I find that the mackeral spin a little, so when I use the mackeral I like the Ballyihood trolling lures. With them the first thing I do is get rid of his double hook cable rigging. I re-rig the lures with single strand wire and one hook, this way when the bluesharks hit I just cut the single strand and retie the rig.
On those flat calm days it is the way to go. I also like to lay out one rigger to get a little spread.
One of the most thrilling trips on my boat was during a fall shark tournment and we were power drifting. A three plus mako chase us down casting a wake to get the filet. We killed the fish and won the event. What a day!