Used to live in Florida where Circle hooks were mandatory for Billfish Tournaments. Bought a bunch of 5/0 stainless mustad and bent the barbs and never looked back.
We use the Circle hooks on our spoons as well with great results.
No problem with hookups, you will find. Just put a few beads in the hootchie to increase the space between the head and the hook.
Best memory was having been followed by a Seaswirl Striper follow us around Hoise Point for a morning. The boat was from Campbell River, fishing out of Moutcha Bay, and was owned by a German fellow, the boat was named something along the lines of "Alkamie"
On our third fish, he managed to run across our line with his downrigger down and snag the line. He managed to bring up the rigger, and the fish had wrapped around the ball and the other fisherman was in the better position to net the fish, and did so. First thing he did was unhook the fish and look at the hook.
He thought we were fishing with barbed hooks, and he apologized. He had never seen a circle hook, and could not believe the number of times our fish jumped but still stayed on. I gave him a 5 pack of 5/0 Circle hooks to try.
We have had springs jump 5 times 20 yards off our boat, and still get landed as the circle hook does not pop out unless rotated and pushed inwards.
Circle hooks are a bit tricky on anchovies and you have to use a 2/0 trailing hook in the tail to increase hook ups for short strikes, but the do a wonderful job on a Rhys Davis head holder as long as you pin the line with toothpicks to hold the 5/0 main hook in the proper position.
As for Stainless, we cannot find them anymore, but the Vanadium hooks made by VMC are just as rust resistant and hold the edge nicely for the point of the hook. VMC hooks are not very maliable, so don't try bending with pliers or they just break.
Drewski