Float is like a free wheeling hyd. motor valve. You could make the motor turn clockwise or counter-clockwise but in the neutral position, the motor could still be turned by hand either direction. With a non free wheeling valve, the motor would be locked and not turn until the valve is actuated. Float allows the weight of the attachment to just fall as it may with nothing stopping it from going up or down. The most common use of float is on a front end loader or bulldozer. If you put the lift arms in float, the bucket or blade will raise and lower to follow the ground contour. Especially useful for spreading topsoil or other material. Caution though! Float should only be used on a loader/dozer when driving in reverse. In forward, if you hit something solid there is nothing to stop the cylinders from fully compressing and you could damage them and/or the tractor by slamming the cylinders closed with the full weight of the tractor behind them.