if you gonna get a line for Squmish system, i would go for the SA ultra 4 wet tip type 3 or 5 . Its a 10 feet sink tip, with a sink rate of 4ips to 8ips. Its super smooth casting, great for distance as well as control. If you need get down in a faster run, you can simply add a 7 feet of super or extra super fast sinking polyleader, with a short tippet and a weighted fly, you can get down pretty deep... As for the T-14, i use them but its not a easy line to cast, you have to slow down your stroke and basically flop out the line. Again, its the cheapest way to get your fly down. And if you do have an old floating line that you don't really want, you can make your own sink tip line by cutting back about 10-18ft of the front taper ( cut it where the fly line just tapered to the fat body.) Put on a braided loop, and follow shane's instruction, cut pieces of T-14 and looped on to your floating line. Or you can just simply buy a actual sinking tip from Rio in type 3 or 6 or 8 depends on the location you gonna fish. Now to answer your question, a shooting line would work for both distance and depth. But don;t got much line control, if you gonna buy a shooting head system, might as well buy a actual sink-tip line. Come down and see me at Anglers West if you have any other question.
Marco