I have the 10'9" 3wt Contact II. It gets most of its use on the lower Deschutes. I actually have only done a little dry/dropper fishing with it. I usually just take a conventional rod along with me rigged up for dries or dry/dropper (you're usually never far from your car on the D) and I think that is what a lot of people do. You can definitely throw a dry/dropper with a euro-leader, the thicker the leader butt, the easier it will be.
According to the designer, all of the contacts can throw a conventional fly line decently, but I've never strung up a 3wt line on my rod. Too busy nymphing! Plus, if I'm needing to throw a dry fly far enough out there that I need to use a fly line, I'd just use my normal 4 or 5wt. I'm sure you could string up the 11 footer with a line and it would work decently, but I really think that stick is designed for nymphing big rivers. If I fished the Deschutes every week, I probably would have gotten the 11 footer.
I've been thinking about getting the 10' 2 or 3wt next for small streams and dry/dropper fishing everywhere, but at almost 900 bucks, I'm waiting to see what Joe designs for diamondback. I'm guessing that rod will be cheaper (or maybe not?). I am a sucker for the unsanded blank though. We'll see!
You might want to check
www.theflyfishingforum.com It has more of an Eastern US slant, so euro nymphing is very popular over there. There are tons of threads on the contact II over there. The 10' 2 and 3wt seem to be the most popular.
Also, I see that you are from Oregon, Deschutes Angler and Portland Fly Shop are T&T dealers. I'd stop in and ask them what they think.