In the Fishing Articles there is a piece titled "Iaconelli's Cranking Tips".  Mike refers to a technique called bow and arrow release in reference to getting cranks through snags.

Is anyone familiar with this?

Moses

Yep. It works a lot of the time and it's saved me a lot of lures, not as good as a pole retriever, but still a useful technique to know.

When I do it I just grab the line between the reel and the first guide, pull back and then let go.  It doesn't really work too well with superlines in my experience because they have no stretch and the only tension you can create is with the rod and whatever you're snagged if it is flexible like a tree branch or something.  If you're using mono the added stretch of the line is usually enough to pop the lure free.  

Thanks phisher, I'll give it a try.

I took a picture very similar to your pike picture.  Mine has a chartruse spinnerbait (Booyah) in its lip. They are fun as heck!!

Moses