I posted a message about gut hooked fish a while ago.Don't know if anyone read it.I use a technique that seems to work without major damage to the fish.I hate leaving the hook in.I use a small pair of scissors.Pull up on the line,this stretches the skin that the hook is in,use your finger or thumb to hold the line against the fishes bottom lip with one hand,put the small scissors in through the gills with the other hand,cut the skin just below the hook.I have been using this technique for a while.It doesn't do much damage to the fish.It is beter than leaving the hook in.If you have a fishing partner,then have them pull up on the line and you can cut the skin.I have put fish in the livewell to see how they do after cutting the hook out.It doesn't seem to effect them at all.The skin will heal much faster than the hook rusting out.