Actually, the April issue of field and stream has an article on river fishing for spring walleyes and they mention this set-up. They call it the Martin rig I think, or maybe Skarlis. It looks like a great way to bottom bounce some floating rapala's in swift water or high wind. VC - they were just using mono, no steel leaders. They say for every one foot of dropper leader rigged to your sinker you should have three to four feet of trailing leader rigged to your stick bait, floating jighead, or whatever you like to use.
If the bottom is clear of snags use a bell sinker, if not then go with a lindy no-snag or use a pencil shaped trolling sinker