As a guide I go through lots of hooks, and have never been able to justify the use of expensive Gamakatzu or Tiemco hooks for day-to-day bonefishing. However, those venerable 34007's DO open up if you put enough pressure on them. I openned two #2 hooks on big bones in Andros one year.
The solution? Well, I do still use those old-school hooks (007's) for most schoolie bones, but I always have flies tied on Mustad's Signature Series BigGame Light hooks. These are affordable, sharp as hell, standard length, and STRONG. Also, they're not stainless so if we pop one off in a fish, I know it'll rust out in short order... not so with the stainless models. I used these hooks on big bones in Andros and had no trouble at all with 16-lb tippet and drags cranked down
For those who've never had trouble with the 34007's, may you someday, somewhere encounter the fish that will do this to your hooks... or perhaps consider cranking down on your drag a bit. As for 10-lb tippet for bones: shame. Bones aren't leader shy if you use loop knots and anything under 12-lb tippet envites break-offs or too-tired fish. Ask Andy, ask Charlie, ask anybody.