You nail this on the head about tiring out a fish with light tackle. I live on the north plat river in Wy. The So called fly fisherman use 2# test on the end . They wear all the fish out and throw them back for dead. i see this all the time.
Both presentations can be effective. We probably use more bottom bouncers and spinners as summer progresses but prefer slip bobbers when on emerging weeds or if the spots are small ie: rock piles, weed pocket, etc.