Being kind of an indecisive kind of guy, I like to hold a flat pick between thumb and index finger (duhh) and alternate with middle and nameless finger. My pinky is kind of an anchor on the flat top that seems to help keep the hand in position during picking. It's double jointed and tends to lock up so it is good to keep it out of the way anyway. Then I can strum and flat pick when the mood hits too. Can't say it has propelled my capbility much beyond 'mediocre drive my family crazy' but it lets me ride the fence fairly well between flat pick and fingerpicking and I don't have to grow funny fingernails.