There seems to be some interest in proper handling and release techniques for muskies and pike, so I'm going to provide you with some information for those folks that are curious.
As mentioned in an earlier post, vertical holds have become a faux-pas when it comes to muskies and pike. Here is an article that outlines some of the reasons not to hold these fish in such a manner. http://www.trentu.ca/muskie/catch/c_r07.html
A horizontal hold is definitely the best way to go. Here is what I usually do:
1) Get the fish to the boat (or shore) and get it under control in some manner. Keep the fish in the water. Don't bring the fish into your boat, or on to shore. I use a large Frabill net which acts as a pen, some use a cradle, boga-grip, and others prefer to hand land these creatures (I do for smaller fish). Whatever you choose, make sure the fish is subdued before you stick your hands in there. Control is key.
2) Make sure you have all the necessary release tools. Long nosed pliers, and hook cutters are critical. If you can get the hooks out with pliers, then do so. If they are deeply embedded, don't waste time, cut them out (they can be replaced easily). Get the lure out of the equation as quickly as possible. If you need to cut hooks, you can remove the shards from the fish later. Pay attention. Don't look away from the fish to get tools. You can tell when a fish is going to thrash, so get your hands out of the way and let the fish do its thing.
3) If you want to get a photo of the fish, make sure you have your equipment ready before you remove the fish from the water. Get your cameras and tape-measure ready. Once you are prepared, you can remove the fish.
4) To get control of the fish, you want to run your hand up the gill plate to the point where the two gill plates meet. It's almost like grabbing the fish by the chin. There is hard tissue there, and you can get a really good grip on the fish at this point. Watch the gill rakes, they hurt like hell, and will cut you. Be careful of the soft gill tissue as well. I usually have my thumb on the outside base of the fishes mouth (like underneath its chin), with my other 3-4 fingers on the inside of its mouth (up through the gills though) behind the row of teeth. It acts like a handle. Make sure to hold on tight, it won't hurt the fish.
5) When lifting the fish from the water, make sure to use your other hand to support the body of the fish. Put your hand (or whole arm if you are smaller) under the belly of the fish, and then lift the fish out of the water horziontally with both hands (not vertically with one). Take your picture(s) and measurement(s) and put the fish back in the water as quickly as possible. Hold on to the fish tight. They might thrash, and you don't want them landing in the bottom of your boat or on land. Letting a fish touch the bottom of your boat, or shore is a no-no as well. It will remove the protective slime from the fish, and will make it susceptible to infection.
6) Try not to release the fish over deep water. Move to the shallows if necessary. Tired and stressed fish may not be able to adjust to sudden changes in water pressure. Sometimes it is almost instantaneous and sometimes revival will take 20 minutes or more, so be patient. Hold the fish by the tail section before the caudal fin with one hand, use your other hand to gently balance the fish under the belly under the pectoral fins. This gives the fish additional support. Gently move the muskellunge back and forth in an S pattern (like a snake) to insure the gill covers are moving softly. Don't push and pull the fish back and forth and force water into the lungs. This can actually "drown" a fish believe it or not. By forcing water through the gills, the angler helps induce breathing and oxygen intake. When the 'lunge is strong enough to wriggle away and stay horizontal, it's a candidate for successful release. Don't abandon a released fish that is having problems maintaining its balance in the water. Wait a few minutes after releasing the fish to ensure that it doesn't resurface in distress. Should this occur, recommence the revival process.
Here is a picture of a fish I released the other day (note the S pattern):

I revived this fish for about 5 minutes, and thought it was ready to go. When I released it though, it was losing its balance, so I had to go back to the fish, and revive it for another 3-4 minutes before it was able to swim away under its own strength.
Hope this helps.

HW