Personally I use the Heli-Rig for 90% of my fishing, partly down to the venues I fish but also for its sheer versatility and effectiveness.
YES a lead clip is fantastic and is used by most anglers out there on a daily basis, but it does have its limits as we know.
Firstly the Heli-Rig casts like a dream. As its name suggests the rig should spin around the line / leader whilst in flight negating any tangles and with the lead being directly at the front it is more streamlined, therefore it will go further.
Secondly, your rig is attached to the mainline itself; It is between the lead and rod which means the indication and sensitivity is much improved as the lead does not need to move for you to see a result on at the rod tip (or alarm). Whereas on a conventional lead clip set up the rig is after the lead meaning for you to receive any indication the lead must first move.
Finally, its versatile, really versatile! Fishing over a weed bed? Move that top bead up. Fishing over gravel? Move that bead right down! Drop the lead, or keep the lead? Simple to change. Fishing in shallow silt and want to really plug that lead to aid in the hook set? Move that top bead up and smash it one!
bottom line is that I love it. I have used the Korda Heli-Safe set up since the dawn of time but it has some serious downfalls! You can either keep the lead on or drop it on the take, there is no middle ground of just dropping the lead if you need to. If you cast it into a snag you can wave your lead goodbye, if you hit the water to hard you can kiss your lead good bye and god forbid you fish in a sand pit or anywhere with fine particles as they will clog it right up forcing you to take it apart and blow on that bad boy like its a flute.
This was all until recently when a coincidental release from two companies made what I think is the best helicopter rig possible. and here is how to make it.