I use to hold certain species that exact same way years ago, but I've come to find you can seriously injure a large fish when held like that. You guys might be able to keep those down there, so it might be a different ball game. In SC, the numbers are low and the regs require the release of the larger fish; in state and federal waters. We have a very strict slot for redfish, as most people just release them. SC DNR biologist worked with some of our fellow captains in regards to good handling practices. This is a good read for the conservation minded, and clearly notes gill grabbing a fish as a bad practice, unless it's going in the fryer later.
http://www.southcarolinasportsman.com/details.php?id=518
I didn't mean to get into a battle of semantics with you. As a fellow captain, I respect your opinion.
I also have over 20 years experience myself. 
Bryan Draper
Your Saltwater and South Carolina Moderator
