When you talk about free floating the forearm are we talking about the same thing that I do to my bolt actions? You know,sanding out the barrel channel so I can slip a dollar between the barrel and forearm?
Basically, no. The forearm is a separate piece, and (as intended by Ruger) it touches the barrel at its end for support. It also touches the sides of the receiver at the forearm "cheeks". The forearm screw is intended to draw the forearm toward the spring hanger so everything is nice and snug, but not actually touch the hanger. Unfortunately, if the barrel / forearm combination aren't happy, accuracy can suffer.
The Hicks Accurizer is an interesting product, and it
sometimes helps tremendously with a barrel harmonics problem. It allows controlling the amount of upward force on the barrel at the spring hanger (increased from zero), which changes the effect of the forearm pressure point. Unfortunately, the Hicks doesn't always work, as the problem isn't always the same.
Others have had good luck by putting an O-ring (or piece of inner tube) between the forearm and the forearm threaded bushing, and varying how tight the screw is tightened.
To solve my "stringing" problem, I replaced the barrel with a PacNor barrel, replaced the stock with a laminated stock, and had the forearm bedded to the spring hanger and receiver (which floated the barrel). Also, so I could shoot with the aid of a sling without pulling the barrel off line, I replaced the 1A stock with one with a longer forearm, effectively making a 1AB.
The way I understand things, floating the barrel may or may not improve anything. In order to do it successfully, you have to bed the forearm at three points to be able to stabilize it without using the barrel. (Because it is a two-piece stock, this is quite a bit more involved than a typical bolt-action barrel floating.) One point is the spring hanger. This little strut can't have enough play in the stock inletting to move at all. The other two points are the "cheeks" of the forearm, where it contacts the receiver. These also need to fit snugly against the receiver with no play. When it is done correctly, you can do the dollar bill test.