That's a nice video! I'll be trying that method out the next time I'm at the vice. I don't have an issue with controlling the first loop thus far, but I don't like how one side of the loop around my fingers has to glance off the eye of the fly on every revolution (watch the link I posted carefully to see what I mean, if it isn't clear).

In the other video, the angle of his fingers seems to take that out of the equation.