I'm not familiar with a moderate action being utilized for drop shots. I use that technique a lot and I'm using either fast or extra fast action rods. Now for crankbaits depending on what type of line you are using a moderate action rod comes in handy from pulling hooks. If you are familiar with the bend from a moderate rod it's more in the middle of the rod where fast and extra fast are more at the tip so more of a direct response on the lure when you set the hook. I hope this helps.