Just from the players we’ve interviewed, it’s clear that this is sometimes intentional, especially when you have a player with a heavy gauge pick who wants to play lightly. Loosening the grip causes the flapping and makes the pick flop over the top of the string. You can see this in Mike Stern’s interview, all the time, and also Joscho Stephan when he wants to play delicately.
So I don’t think this is so much a black and white thing, but yet another of the thousand variables we’re supposed to be able to control. As if we didn’t already have enough, right??
I think we still need to get to the bottom of really fundamental questions like this, such as: how do you play a “louder” note? Is it more pick? Faster movement? Firmer grip? All three? Sometimes some and not the others? It’s amazing again how many variables there are.
Of note, when I do extended finger grips, even when lots of pick appears exposed on one side, you might see on the other side that my finger is extending much further down the pick than you might guess. So that may have something to do with it as well. When I do pad-side type grips, I can almost totally eliminate the “flap” even with relatively light holds. Those are very stable.
If you get a moment, take some photos of your grip from a couple different viewpoints and post them. I think it would be interesting to see what you think “choked” up looks like, and what part of the hand is actually doing the choking, and how much pick is actually exposed on both sides of the pick. In fact if you can measure that, that would be cool too.