ok. so it pretty much is float fishing.... so what, it doesnt mean its wrong or right, and why should we put barriers up between coarse and game- infact all disciplines of fishing for that matter.
Floats are indicators, theres no denying, and indicators that float, well need I say. theres no reason why it should be frowned upon IMHO.
now, indicator types.
dry fly- something like a parachute should do the trick, i use a reverse para, klinks are very popular for this. most of the time the dropper is attached to the bend of the hook. good for single nymphs, im no expert with these but i always seem to get tangles

but it works great on its day, and ive found your equally likely to get a take on the dry or dropper if the fish are in the right mood.
putty- will not kink your leader, and very easy to apply, and floats good. a bit heavy on your line on the cast, but no problem when your fishing short range. I like to use it in small blobs a foot or so apart along the leader- you get to see every little movement on the leader, great for czech style tactics on rivers where the fly line doesnt touch the water.
thingymabobber- ultra bouyant, i use this for deep holes on rivers with ultra heavy nymphs, very effective too. although they have a tendency to kink the leader.
yarn- good for lighter flies in riffles, i like to use a dull colour that wont spook the fish, such as grey. sits in the surface so it 'sticks' when mending line- grouse might explain better. depending on how you attach them they can kink the leader.
plastic twist on ones, e.g. football indicators- ok, float ok, sit a bit high, kink the leader slightly but are good for altering depth of flies.
other indicators i am yet to use-
stren coil- a tight coil of stiff, brightly coloured mono that when greased up floats high and acts as a shock absorber to taking fish.
im sure theres a few ive forgotten