Well, I tend to hold the pick in a "choked up" position. I barely have the tip of the pick showing when I pluck the string(s). I do this for several reasons. One, I get some really great pinch harmonics. Two, it gives me more control of my attack. This may not work for you or anyone else, I just find it comfortable. I have decent speed, nothing that would melt the fretboard like Morse, Gilbert or Petrucci, but, I ain't slow either.
I noticed that I hold the pick fairly flat, almost at a 90 degree angle to the strings. I got my speed and continue to work on it by practice, practice and more practice. That is the way to develope speed in my opinion.
I think (again, my opinion) holding the pick at an angle like a 45 or so, would cause a problem with alternate picking....hence, slow you down due to having to drag the pick further up or down to pluck the string.....does that make sense?
But, some peeps on here may have other methods that may work that are different than mine.
