Is hunting over a watering hole any different? Fair chase means simply the animal is completely wild, unfenced, and has a just and fair opportunity to escape and survive. If your in reference to bears, they have noses that few animals can rival, so to hunt over bait is as fair as it can get.
The real question to ask is, do you like to sit on your duff and hunt or do you like to stalk to hunt. Some like to sit, weather its tree stands, ground blinds, or just still hunting.
Some like to stalk, moving in like a predator to hunt. Its all in a personal preference.