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I keep gut hooked fish as long as they are legal size. Although it really occurs when fishing live bait which I dont do anymore. I have caught several fish that have still had leaders clipped off at their mouths.
I'd like to see more data on hook deterioration in fish.
Makes me wonder if it wouldn't be better to remove a hook from salmon caught ice fishing then to leave it in.
I know the longer you have a fish out of water at below freezing temps, the more of a chance that the delicate gills will freeze. I wonder which is the more injurious to the fish.