Using an electric reel at any stage would be a violation of IGFA rules. Even just using the electric option when checking the bait would give an angler an unfair advantage; this is expressly against IGFA rules.
A way of making deep-water fishing easier would be to use an electric downrigger (or an electric reel as a downrigger). It would be permissible to attach the main line (not leader or double line) to a release device/clip on the downrigger. The electric downrigger could be employed to pull up uneaten baits. Even if a bait was knocked out of the downrigger clip, but the fish not hooked, it would still be alot better for the angler to reel up 1000-plus feet of line without a heavy weight attached.