There are no accurate reports on the Ranjeet sagar. I was there about 6 years ago and had a fantastic trip, but the lake faces the following problems from an anglers perspective:
1) Jurisdiction: The lake is split between three states; Punjab, J&K and HP. Unlike J&K and HP, Punjab has a very defunct angling policy.
2) Security: Being in a so called 'sensitive' area, hassment by the cops/secrity guys is phenomenal. It is best to go there with a military connexion. No other way to beat this.
3) No local Support: There are no boats/roads around the lake. It has to be beaten on foot or one takes the boats belonging to the Dam. You again need sarkari jugaad for this.
The above are a few reasons why the 'aam angler' should not venture there! But if you can find a contact in the admin/sarkar, then no place beats Ranjeet Sagar!!!
Hope this helps...