Just thought I'd share a setup that's working well for me (I'm sure other people use it as well - but here's my version step by step).
The basic setup is a Rod Dibble furled leader (made from Gel spun polyester) of 4ft in length (rated to go with my 3-weight floating line). These are available with terminal loops as well as microrings - for this setup; the looped end is the correct option. This allows a temporary hi-viz braid section to be quickly added or removed. Attached to the hi-viz braid is a 6 foot section of level Stroft mono (0.14mm diameter) to a short dropper with a further 22" to a point fly (Again Stroft mono of either 0.14mm or 0.12mm diameter).
I keep a level tippet and single dry fly wrapped around a block of foam on my fishing vest. The foam block has a velcro strap all the way along one of the long edges to trap down the butt end of the tippet (which ends in a perfection loop). I can then very quickly change between a nymph and a dry fly setup (simply by unlooping the rig in use, wrapping it onto the rig block and looping on the alternative rig). The advantages of furled leaders for dry fly have been covered quite a lot already - however they are also brilliant for super sensitive nymph fishing as they are so much lighter (and hence present much less resistance to a taking fish) than normal fly line. Furled leaders are also really low stretch and provide good contact on the strike.
Here's how to make the hi viz loop (which can also be used on a long leader/"French nymph" type setup).
Take a length of bright orange braided backing and form a hairpin bend - pinching the apex of the bend in the jaws of your flytying vice:
Catch on a length of standard black tying silk (do not use Gel Spun polyester as it is too slippery) as you would when starting to tie a fly:
Then whip towards the apex of the loop (further trapping down the tag end of thread):
Trim the tag end of the tying thread
Then fold the loose end of the braid towards the apex of the loop too (to add extra security) and trap down by whipping over:
Continue to whip away from the apex of the loop (having trimmed off the tag end of the braid:
Now catch in a doubled length of monofilament (about 5lb breaking strain right) with the apex of the mono loop pointing in the opposite direction from the apex of the braid loop:
Lay on about a dozen further turns of tying thread over the nylon loop- working away from the apex of the braid loop before cutting the tying thread and passing the free end through the nylon loop:
Now tightly grip and pull the tag ends of the nylon loop so that the free end of the tying thread is pulled back under the existing whipping:
Finally crop off the spare end of the tying thread closely to the whipping:
Repeat the process for the opposite end of the braid (making the loops the required size - larger at the end which will loop onto the furled leader with a smaller loop to tie onto with the level nymph leader.
One on the dropper using the setup above: