For my live bait fishing with a spinning outfit, I can categorize as bobber or no bobber. I alway use weighted bobbers for casting distance. In some instances, I'll use bell weights or split shot depending on the situation.
In either case, I'm mostly fishing with fatheads or shiners, and occasionaly meal worms, maggots, or night crawlers. For meal worms, maggots, or night crawlers, it's almost always with a bobber simply for casting distance.
For fatheads & shiners, I may or may not use a bobber depending on conditions and my target fish's preferences.
I almost always leave the bail open. This allows the fish to take the bait with little to no resistance. It also allows the bait the move around via it's own power or the wind.
MORE IMPORTANTLY, I don't usually hold the rod the entire time. If the bail is closed, the rod can get pulled into the water.