They all have their place in the lure roll as Trevor mentions!
I'm a big believer in floating style baits that mimic flying fish activity - or any fish that exhibits a fleeing type action that switches on the predator instinct in fish. This is why the Carpenter Gamma is simply unsurpassed in the hands of the right angler.
A majority of the reefs, shoals and points in SO are shallow, and as such, floating stickbaits work very well providing great fusilier, flying fish and long tom imitations.
Sinking stickbaits can be great to mix it up and provoke a bite when the fish have lock-jaw. Sometimes they will sit a little deeper and sulk during certain conditions. Also a great alternative if the conditions are too windy and rough to effectively work a floating stickbait.
Good luck!