i remember reading an interview with mark knopfler of dire straits in which he said that he played fingerstyle because you can really do anything fingerstyle you can do with a pick but not vice versa. i've always loved great fingerstyle guitarists who showcase this versatility and finger independence - like mark knopfler, bruce cockburn, lindsay buckingham, clive carroll, steve howe (hybrid), etc.
i saw alex cuba at jammin java recently. he played electric all night - fingerstyle - but use some very cool and unique fingerstyle techniques such as tremolo picking and some rasgueados and more. it was unexpected, incredibly fun to watch and added an extra dimension to his playing.
here's a video i found online of another alex cuba show - the solo starts at about 1:35. check out the tremolo picking, etc - not stuff you see on an electric guitar very often!
here's mark knopfler talking a little about his fingerstyle technique - defintitely rooted in travis picking and folk/blues.
and bruce cockburn: