I dont see why it wouldnt work englander, my only qualm would be the heavier gear needed to fish the fast sinkers. I use my 3 weight for perch and can cast surprisingly heavy flies with it, if i need to get down i use various sinking speed polyleaders with quite a long length of tippet.
Saying that, all of my perch fishing so far has been done in summer where the fish can be caught in the margins so such tactics are not necessary, I like to use flies with a heavy head to give them a jigging action which the perch seem to love.
Im thinking about trying the canal for them later in the week, im getting bored of not catching any pike so it will be nice to blank with a lighter set-up in my hand