Forgive my determination on this, I am very excited about these, they have put way more fish in my boat over the last two years vs traditional divers. I would say they are as effective as leadcore on planer boards... Yes, I said it!
The advantages of Slide Divers in my opinion far outweigh the learning curve required to use them.
Here are some pros and cons
Pros for Slide Divers
1. you can have as long of a lead behind the diver as you want.
2. the light bite can be triggered by the smallest walleye. No more dragging fish around
3. once released, the diver sides down the line to the stopper, allowing for a very short lead while trying to net the fish... 2 - 3' instead of 6 - 8'. So easier to net, and shorter rods can be used
4. they have a much wider range of settings, so in the spring for example you can set it to 5 or 6 instead of 3 and they go way more to the side and stay closer to the surface, but still allowing the lure to be well behind the boat or close... its your choice
5. no need for storage solutions
6. no need for snubbers
Cons
1. Few colours to choose, clear or black
2. learning curve, you need to learn how to get the line out and set them up, it can be tricky at first
3. they stay on the rod, so you will need to figure out how to put them away that works on your boat
4. Availability, not everyone carries them, sometimes hard to find and if you want rings etc, pretty much need to order stuff online or in store.
5. Spare parts, you need to keep certain parts on the boat, such as the rubber bands, they wear out over time, I go through 2 a season per rod
I do not know how you lost one on the bottom of the lake, used correctly they are pretty much impossible to lose as they are on the line.
I would give the one you have left a fair chance, put it out with 25-50' of lead with your other dipseys and see which one gets the most bites.
A few hints,
My reels are set up with 50lb braid backing (could be 20lb mono), then 125 yards of Fireline (keeps the fleas off and has no stretch) then, 25 - 50' of mono 20lb. The diver is threaded onto the mono just below the Fireline. , then there is the bead, and a swivel, then your 2 - 3' leader and a snap swivel.
To deploy, you simply put the rod in a holder, hold the diver in one hand and peel out 25 - 50' lead, letting the lure out. Then lock the diver on the line, reset the counter on the reel, and drop the diver in the water, let it out as far as you like.
The best part of the light bite, if a lazy walleye bites, it will release and the tension on the rod will change. The angle of the line will change, it is very evident when there is a fish on.
Even if you didn't see the need for the slider portion of the diver, you could use them as traditional divers and just connect the leader line to the light bite arm, it will still operate as described above without the slide
I have been brainstorming ever since to figure out how to use a similar system for my planer boards. I couldn't count the amount of times I am packing up my gear at the end of the charter, and there's a lazy walleye hanging on to the leadcore. And I check them all the time!
. 20 lb is great if your ready to retie and probably more sensitive. I now use 30 lb for my harnesses and feel confident with that strength for numerous outings. Btw Seagar is ok, soft and easy to work with but I alway add 5 lb compared to a better quality Tirk line… simple is best!