As a Custom rifle builder I have some experiance here, so welcome to my opinions. A true free floating barrel is free from stock contact from the action froward. With most barrel contours this dollar bill clearance works fine but on ultra light barrels this is not enough clearance. Full bedding will work fine here untill the barrel warms up and then you have a climbing point of impact. This is not a fact that affects the average hunter, though an ulter light will heat up fast.
Most rifles will shoot best if the barrel is not truely free floating. When totally free floating the barrel is hanging by the threads so to speak, this causes action flex. For the best accuracy with most barrels bed the action and the chamber area of the barrel. By the way, if you want to check if you have enough clearance in the barrel channel, coat the barrel with lamp black or somthing simular, put the rifle back togther then shoot a few shots, take it apart and check for contact, you may be suprised.