Properly Setting Drag on a Spinning Reel?
One of the things most fisherman forget is that the line is only as strong as it's weakest point. Any nick or twist in the line can reduce the strength of the line by 50-75%. To tighten your line while fighting a fish is asking for the line to break, especially if you are fishing heavy cover or rocks.
Set your drag at the beginning of every trip and leave it alone. If you need more pressure, apply it manually with your fingers. Using this method, my buddies and I have brought 40+ pound sturgeon to the side of the boat on the WI River, using ultralights and 4 pound test line.
On a side note, I have always heard that you should store your reels for long periods of time with the drags loose. I have followed this and have not had any issues with drag failure.
My father in law keeps his drag set really tight for good hook sets and back reels. He is a professional guide and catches over 1000 eyes a year in open water so he has had lots of experience. I want to try this method this year.