i use it all the time, my pond is crystal clear and the fish can see you moving, but with the drop shot ive caught even the most finicky fish on it,and to answer your question, no being lower to the water does not affect anything IMO, but this is one of the best rigs that i throw and i mainly fish off the bank. Ive caught a good deal of 3 lbrs on this rig, its very productive and the bass cant seem to pass up such an easy meal shaking in front of their nose!
good luck
-Tully