Someone mentioned (I think in this thread) that, the knee out was not for 'feeling the ground', but for providing a stable platform to support your torso. I felt this helped me understand what was going on, and really improved my confidence.
I feel like I'm grabbing onto the bike with my heels; balls of the feet on the pegs, heels locked onto the heel guards on the stock rearsets. This makes my legs feel really locked in. I can cantilever my torso way off the bike, and use just the barest of fingertip pressure to hold throttle when in a turn.
Never ride faster than you can stop