I fished with a guide in the Keys that used "Hard-Mono" for all but the tippet section of the leader. He liked it because it is really stiff and capable of cutting through the wind.
I'm not a serious fly fisherman, but around here, I pretty much just use straight mono and I've never had a problem. If I was presenting dry flies to trout, I'd worry a lot more about my leader. But, throwing streamers to bass and blues, I wouldn't worry too much about it.
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