Took one that was just over 5' over a water hole back in '01. 8 yard shot and maybe a 40 yard recovery. Saw 5 different bears in two days of hunting. I used a Double Bull blind and it worked great. They will come right up to the blind to check out the "new" form in the area. I used the same bow that is pictured in my avatar, and it was actually the same arrow! Had a pass through on the bear. Morrison Dakota, 58", 60# @ 29", tapered lodge pole pine shaft with a Woodsman on the end.
If it's dry (which it usually is) waterholes are great. If it's wet you'll have to hunt the acorns or whatever other food source is out there. Spot and stalk can be done, but it can get dicey, and it's tough hunting.