How much impact will low water have?

I'm concerned that the low levels will effect spawning/fishing, ponds around here are still 1-3 feet low and I'm sure most rivers aren't at their normal flow (I know the creeks aren't).  Do you think tactics should be changed? or will fish go on about their normal business?  I know I've always looked forward to the flooded grasses and timber In the spring, so I hope we get a good solid rain before spawning season.