Mine gets used, subtly. Except on Wicked Game, like some others here. There's good places to use one in Yellow Ledbetter, and some Pink Floyd songs as well.
I've blocked the trem with a wood block inside the cavity before, and it does sound slightly different. It's easiest to hear in a big clean amp, but the floating block almost sounds like it has a natural bit of reverb when you play. Just don't break a string if you have it set to float.
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