This is just one guys opinion, but I have worked with both concepts alot. Forgive if I sound like a cranky old bastard, but:
Tie a 3.5 to 4 inch rabbit strip to a hook. let it dangle in the current and watch it for a minute. Hell tie a sauk shrimp with a sparse bucktail tail and do the same thing. Lots of wiggle. I've played with bills on flies for years and gave it up. Remember you aren't back trolling or bringing them in straight against current you are swinging them across current under tension. Think about side planes on a trolling boat. Cutting a blade "true" in the vise is not the answer. Although the good news is you can pretty much feel when they aren't fishing right and spinning, so you don't waste alot of time fishing a bad running fly without knowing it.
As to rattles, what would make them rattle on a swung or dead drifted fly? Bass guys wiggle the crap out of heavily nose weighted plastics to get them to make noise. Again, not very effective for us fly guys. Even lead eyed bass bottom bouncing flies don't make much if any noise with rattles. At best one "tick" on the strip, and one when they hit bottom. Whoopee...ptyd
Once again sorry to be the stick in the mud. Perhaps others have come to different conclusions.
Nah, I agree with Philster. I've used rattles, but never on steelhead flies. And I use tons and tons of spinner blades...but on my pike and muskie flies. I agree that each of these components woudln't work to their potential in a swung fly. Nothing says you can't or shouldn't use them, but there's better applications for them IMO.
There are a bunch of wiggler pages near the following link.
I make wigglers with closed cell foam (for bouyancy at the rear end)
combined with diving bills cut from the clear plastic boxes things
like peppers get packed in at Cosco. I cut the blade roughly to shape
(but way too big) and rough it up with sand paper. Then I glue it to the
foam with super glue. Then I flatten a split shot with pliers, and glue it
to the bill for added weight. I "tune" the bill at streamside with a pair
of toenail clippers.
If the lure tracks off straight, going right, trim a sliver off the left
side of the bill. Pre-made wobble blades are impossible (for me)
to use, because they rely on perfect placement and balance of
the fly, which never happens. A better way is to install a bill
that is way too big. Then clip it off and trim it down (once and only
once) at streamside. http://montana-riverboats.com/Pages/Fly-Tying/Sandy-Pittendrigh/Lure-Flies/index.html