Badger,
The only grips that I wrap are copies of older styles that would (usually) have them, or when I make a bow for a friend that feels like the people you met.
Lately I've made all my personal bows in the short, eastern woodland type from my area (mostly Ojibwe and Odawa) and I do not wrap the grips. I shoot bare handed (both) and agree with you that you can feel a bow that way. I can feel it work, and can tell when the bow starts to work into the center. To me it's like you know exactly what's going on with the bow as it's drawn.
I also use the native american method of tillering under tension, and the partial draw cycles involved coupled with the "looking" makes it very easy to get get a good symetrical circle tiller, with out benchs, vises, or gizmo's. But hey that's just one real old mans way....but I do get a real feel for my bows by making them that way.
JMHO
rich