I’m trying to figure out what exactly is going on here and need some help, it looks like maybe it’s DSX/upward pickslanting with primarily wrist motion - possibly reverse dart thrower? I’m not sure where he’s anchoring his hand, it seems sort of high.
It looks like DSX RDT with a soft anchor on the part where the wrist meets the pinky side of the palm, although it’s kinda funny that he’s playing a traditionally USX pattern without reversing it.
That’s what’s confusing me too, if he’s doing DSX, then why or how is he picking the USX way? Is it secretly USX? He also has that furious attack I usually associate with USX.
I think I’m seeing some small flicks on string changes here and there. Chances are he’s playing DSX with secondary escapes and just starts every string on this lick with a downstroke because, well, that’s what “common wisdom” dictates.
I’ll go out on a limb…don’t be surprised if I fall 
I think he is anchoring his wrist on the body just above the bridge. The narrow V body might make that anchor point more playable because he has less guitar body to reach around. Can a V owner here confirm?
I suspect trailing edge DSX based on the way radial deviation seems accentuated - I’ve noticed that about trailing edge picking in general.
It’s unfortunate there isn’t more light. I love Schenker so I will watch this thread.
That’s really interesting if he’s anchoring on the body. I struggle with anchoring and muting a lot but can get a fast picking motion no problem, I haven’t really tried body anchoring but I don’t have a V. It would definitely make sense if he’s using trailing edge, I never considered that for this clip and in all the footage I’ve seen of him I suspected he might be doing trailing edge too so cool that you came up with that observation independently.
Maybe this video will make it easier to see…
There’s definitely some swiping in the first vid: if you listen really close, you’ll hear some open string notes briefly sound multiple times, especially during the descending part.
In the second vid, the motion looks like mostly elbow with some wrist, and possibly some rotator cuff - the first vid is “wristier”. The changes are possibly due to age, but I can’t say for sure.
And here, you can see what clearly looks like trailing edge grip.
He has also said in many interview that he picks with the rounded edge of the pick, which is usually a nylon pick. He’s used a Herco Flex 75, Dunlop .88mm, and I think he uses Dunlop .60mm nylon these days.
It’s impressive that he can play so fast using trailing edge with the rounded edge and the grip section of a nylon pick creating extra resistance.
Hmm, really? That’s crazy. So the tip end is flipped around? I’m not sure how he gets his grinding attack, it sounds so dull if I do that.
Here is a video, from the early 80s, where he talks about it:
Good find. Straight from the horse’s mouth. What do you guys need me for?
I met a great player in the early 90s who was totally into Schenker and played with the same corner of the pick. I couldn’t remember if he used trailing edge or leading edge. But he dressed just like Schenker and played a white V. He must have seen this video.
Wow, there’s even a CtC-esque pick hand shot in there at 1:22. Super brief, but clearly some folks were paying attention.
Very interesting. I’d never have imagined he’s playing with the back of the pick. Now looking at those old Herco picks they had a wicked Max Grip style pattern on it so maybe that explains the attack.