Re: The End of The Line; Discussions on Furlled & Knotted Leaders.
I'm not sure it's better, but there's one instance where I will always use a knotless tapered leader over my furled leaders. If I'm fishing for big bass in a junkyard, with lots of stumps, rocks, and submerged objects, I'll use one. I put too much effort into making a leader to let them get torn to pieces. Otherwise, it's generally furled leaders for everything.
I have also heard that dry flies land more delicately on a knotless tapered leader, but after I became accustomed to using my furled leaders, I didn't notice a difference. I will admit that this could possibly be attributed to my use of a relatively long (5 ft or more) tippet when throwing dry flies.
Level leaders have their place, and I have heard that they work better with streamers as well. I don't think so, but that's just my opinion. Having grown up using level leaders (due to my own ignorance and lack of funds), I don't like to use them now. Twisted leaders are fantastic with large streamers, and generally stronger, so I'll twist one up streamside rather than go with a level leader any day.
frus·tra·tion (frəs-ˈtrā-shən) n. Watching a nine year old with a cane pole and a tin can of worms catch his limit while you get skunked.