Yep, it's all I would use now. No soaking required so good for holidays as well. They need a lot of weight though. Easy to pull the long pin out and open them up to dump wobbe's out etc. I used to wrap shade cloth around them and cable tie in place so the crays could climb in easier, but I'm not sure if that is legal or not.

 used to love them around rotto. we'd drop them in a reef hole then jump in and wedge them under the ledges. guaranteed jumbos!

 OP said  round plastic with steel bottom. Are the responders talking about them or those six-sided things, folding, that need ballast tied into the bottom.  Giggle pots, most commonly spotted washed up on the beach, around here. There is a large, circular  plastic sectioned pot, welded steel bottom, with a removable neck available, or used to be. I used some as a pro for some years,caught well out deep, or where the average size of the crays were large.Generally not so good in the shallows for regular sized crays, or in the whites, but that was up here. In the south, YMMV.