I'll agree that the longer the ball is in the glove the longer the release, but I would argue that a bad pitch needs to be brought to the same exact spot as on a good pitch. Not to the throwing hand, but to a consistent spot right in front of the throwing shoulder, where the throwing hand can go retrieve the ball.
I know you're trying to provide some insight, but the video of Pudge doesn't exemplify what you say should happen. In fact an argument could be made that his release could have been quicker had he stayed out front a bit more to allow his lower half to create resistance and become engaged as he loaded his arms.
And flipping the ball implies that establishing the pitch as a strike to the umpire is being ignored. The simple fact is that while the exchange needs to take place first, it nee to take place as we are coming up out of our crouch. I can't start my approach in the direction of my target until my right foot is planted and I can't start my right foot across until I am up high enough to get it underneath my body without forcing my hips and momentum to my left. The time you believe you are saving by flipping the ball into your hand is moot, as we still have to come up out of my crouch before I can efficiently begin my stride and upper body load. I'd rather make sure I got the ball in my hand than trying to take a short cut that doesn't gain any advantage whatsoever, but instead risks mishandling the ball.