This is what I do (ignoring heavy cover):
Have your drag on the tight side, but not locked down.
Rod tip high with controlled slack. You want to be able to feel the lure/bite without affecting the movement of the lure.
When you detect a bite, reel down.
You want to feel the weight of the fish before you set.
You don't need to set like you're Greg Hackney in his 20s. Reel down and pull.
I can remember one time in 4 years of fishing that I had to set without reeling down. This was because the bass were spitting the senko incredibly quick. I use a Palomar knot for everything.