Hi Mike
I've been using the wee rings for years and have found them excellent but there are a couple of things you need to watch:
1. make sure the nylon above the ring dosen't become weak through too much use, or damaged through the usual rigours when fishing
2. Check the ring itself for damage (i lost a good 3lb plus broonie 'rod bender' i'd stalked for ages on a certain river i fish earlier this season due to this)
I generally use the Leeda knotless tapered leaders (4lb to 6lb) and vary the length between 4' to 6' (taken from the butt and cutting off the unwanted level stuff) depending on conditions, location etc and tie the ring in at my chosen length. From here i tie in my desired length of nylon again depending on what, where or number of flies i'm fishing.
Loop to loop connection at the fly line generally using that much frowned upon method of a very short section of exposed core which i use to form a very small loop.
Musclin(sp) keeps the water out and i generally don't have much of an issue with the tip sinking. Otherwise i tend to still use the factory made loop in the fly line if either there's one there, or it's not too intrusive.
Works for me and hope this helps
Allan