Hello tobscore,
This is a tricky one to answer. From your description it sounds like you hold the pick the same way as Marty Friedman.
I personally do see some disadvantages with this (muting of strings is harder, etc) - but on the other hand Marty is one of my favorite guitarist and he did it "inspite" of his picking technique.
I know this answer might sound controversial as Marty himself states that his way of holding the pick is a "semi-conscious" decision.
I think my final words of advice would be to have "pick holding" in the back of your mind when practicing - but spend more energy on the actual music, tone etc.
Hope it helps!
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