I tried it once with some sandeels that I had left over - I left the gun at home - I was just curious to see how the bass reacted - it was cool - they came really close and hung around for a while.
Generally I think that to do this as part of a regular spearing would be a pain. THat is for me at any rate - I know that some catch a green crab on the way out and crush it when they get to where they want to fish - others have taken old shafts with a net bag and tethered it to the bottom.
Personally I keep all the bits and swap them for crabs or lobsters from the local potter - win-win situation

(... well not from the crab/lobsters point of view).
Ed