If Baited Hook kills a friendly unit in the same area as Soraka (or is saved by Zhonya's/Sett), does it save the unit and can Baited Hook still use the unit's might+1 to look at cards?

Ruling: Baited Hook does not work if the unit is saved by Soraka, Zhonya's, or Sett. You will look at 5 cards and recycle them all because no unit was actually killed.

Sequence:

• Baited Hook targets a friendly unit to kill
• Soraka/Zhonya's/Sett replaces the kill action with a save effect
• Since no kill game action took place, there is no "killed unit" to reference
• Baited Hook looks at 5 cards (base amount) and recycles them all

Nuances:

• Hidden Blade works with save effects because it references "the targeted unit" or "its might," not "the killed unit" - as long as the target is still valid on resolution, you can reference its information
• Baited Hook specifically says "the killed unit" which refers to a unit that received the kill game action, not just the targeted unit
• A unit is only considered "killed" if it goes from board to trash (rule 415.2)
• Save effects replace the kill action entirely, so no kill game action occurs and Deathknell also won't trigger
• Tokens that are killed can still be referenced for their might value using last known information (rule 356.3.e.13) because they did receive the kill game action, even though they cease to exist in the trash