(I dont know how to quote -_-)
well the only difference that i know of other than personal taste is that once you get into the hang of the stick resting on your last knuckle is that the "flipping the bird" thing goes away entirely. And to ME at least the hand looks a little more relaxed and natural and a little less "claw like". I think its all just a matter of who taught you, because the person that taught me traditional taught me to rest on third knuckle, and when i would watch him drum thats how i would see it played, so i guess im just inclined to like sticks when they rest on the third knuckle more. So for control its like you said, but for looks, at least for me, it looks better to have it rest on the third knuckle, which is why i mentioned it for ted who is concerned about the appearance of his left hand. But for major differences in playing style ect. i dont think there are any.