David Cohen taught me how to fingerpick at the Ashgrove classes in 1964-65. Fingerpicking 101 was just learning to play Freight Train - using 4-5 different 3-finger combinations. I never had to learn much more, and I'm still learning how to use variations on this style. For example, I just started playing Dave Von Ronk's 7th chords for Do You Love John Hurt.
My point is that, even if you have the talent for great chops, I think a good song is best presented by a simple guitar style such as Joan and others have used - Bruce Langehorne's playing for Don't Think Twice says it all for me. I also higly recommend learning to play an Echo harmonica, as played by Utah Phillips, this can also add a heck of a lot to a good song.
Chris in Wheaton