Great idea, Cooscoos! Now this is the type of topic that this board is here for.
Here is my left hand technique:

and here is what it looks like from the front:
[img]http://www.drumlines.org/upload/36297-mamlhfront.jpg[/img]
My fingers are nearly straight, however I am not forcing them there. They are actually very relaxed. As you can see, the stick rests on or near the bottom of the cuticle of my ring finger and the pinky is helping support it. (You can see a better view of my pinky position in the third picture.) My fingers never leave the stick, and I control every motion with the fingers and wrist.
[img]http://www.drumlines.org/upload/36297-mamlhvert.jpg[/img]
As you can see, I do not have the "Catch the Water" type at-rest grip that seems to be common out there. If you look at my three knuckles in the following above-the-stick picture, you can see that my palm is nearly perpendicular to the playing surface.
[img]http://www.drumlines.org/upload/36297-mamlhvert1.jpg[/img]
All movement is supplied by the turn of my wrist. The only time when it would be possible to catch water would be when I have the stick raised to it's fullest extent:
[img]http://www.drumlines.org/upload/36297-mamlhraised.jpg[/img]
You'll notice that I cannot get the stick to the near verticle position. I do not know whether my lack of height is related to my grip position or if it is just a matter of stretching it out further over time. I can usually get it to go a little closer to vertical when I am actually playing, as the momentum of the stick carries the rotation a little further past what is pictured.
I do not normally play with my wedding ring on, but I had forgoten to take it off for the photoshoot.