I used to hold it like many of you have described w/ my pinky barely on or dangling off. I'd always and still do take time off and that blister comes back and hurts on the palm. I could get past that one. It was the losing of the fingernail on my pinky that got old. It would always get seperated from my finger from the stress of being on the grip and then sliding off an supporting the racquet, etc., etc.
After reading some of these posts, I think I'm going to go back to trying it again. I always had better touch when I hit like that. My volleys were more crisp and my serves were harder and more accurate. Groundstrokes were harder too. We'll see. Tomorrow is going to be my first time playing in a week and a half. MELT SNOW MELT!