How would I use a float that I hold in memory to generate a raster dataset? My first thought was to turn the float into a .FLT file and write the appropriate .HDR file to go along with it. Then I would use FloatToRaster. I wasn't quite sure how to turn the array into the file though, if it is even possible.
Also, I have a TON of raster datasets to create, so I don't know if this would be the best method anyway.