I've done the wahoo thing, and it's a thing of beauty.
My wife and I vacationed in Saint Martin in June of last year and took a blue water charter out for some bonita, yellowtail, and whatever else might be biting. We set up a chum slick to the north of Saint Bart's, and the smaller tuna started coming in strong. We were catching them on conventional gear, and I had noticed that the captain had a heavy (12wt) flyrod on hand. I asked him what it was for, and he told me I would know it when I saw it. Sure enough, not too long afterwards some fair sized wahoo came up to the source of the chum, and the captain gave me the long rod. I got hit by three separate wahoo over the course of the next hour, but only got the steel into one and eventually landed it. We estimated it to be between 25 and 30 pounds, and at some points it was out of the water more than it was in it. It was hooked within 10 yards of the boat, and the first run showed me the backing in about 4 seconds. I will never, never, never forget that fish, and I need to rely on my memory because we didn't have any cameras with us (they were left on the bed in the resort room).
I see it as potentially a once in a lifetime opportunity and I'm very glad to have experienced it. It can happen if the conditions are right, and we probably wouldn't have seen any of the wahoo without the chum slick.