I never use my pinky to balance/anchor my hand...funny I noticed the kid I started playing with years ago did that (while using pick even) and I thought it was strange lol.
I am hardly an accomplished fingerpicker at this point, but I can do some nice stuff (IMO) once I get up to speed. It is more natural for my to use my palmheel as an anchor, then I can do muting as well. That does keep me a bit closer to the bridge than I would like for tone, and diminishes the leverage I have with my bare thumb. I suppose the type of bridge on the guitar would affect the style/ergonomics alot. Ive been playing Strats and Martins, flat bridges.
I was a Jorma freak when I started playing, but didnt have the patience to get over the hump of syncopation with thumb keeping time back then. Wish I had...now that i finally started doing it there is nothing like it, especially playing alone. I am letting my tips heal now from an excited session with the acoustic (which had been dormant for months). I am trying to get acclaimated to a thumb pick to get a little more authority and some Tommy Emmanuel type flourishes LOL (in my head anyhow).