FYI: on Lefty's opinions on reel drags. I read that one reason why he advocates a "lower" initial drag setting is that as your line is peeled off of the reel and you start to get down into the backing, the spool diameter also gets rapidly smaller. Therefore the force or pressure that the drag can apply on a fully loaded reel gets progressively greater as line is run out.
Here's another way to look at it: Drag set @ 5 pounds on a fully loaded reel @ 3.5" diameter, means that ~11" of line comes off on each revolution, once the line/spool reaches 2" dia., only ~6" comes off of w/ each revolution. When your down to your last remaining backing and the spool's only 1" dia., ~3" comes off each revolution.
The key point is that the drag mechanism is acting onto the spool, not the line, therefore the increase in pressure, through leverage, is inverse to the spool diameter. In layman's terms, given the example above, close to 4 TIMES as much drag pressure is being applied to the line (through the spool) via the drag when empty versus being full.
I read this when I was researching bonefishing info last spring. FWIW, my friend who got me hooked into the saltwater FF and I were "lucky" one day to hook up with some large 40" bass with Capt'n Benson of Fishing the Cape. Before we set out he took our rigs and set the drags to "his" liking, which on an Orvis Battenkill 10/11 and DXR (model?) were just a little more than 1/2 way. He told us to palm the reel as needed and he not only mentioned the drag increase due to a smaller spool size, but said that there's a drag increase delivered to the tippet due to the "drag" of that 100 to 200 yards of backing and line already in the water. Interesting and a valid point!
Unlike previous posters, however, we didn't have rocks around to worry about - but the bass should pulled out that backing! Hope this info helps!
Dale