Hi there guys, this is only my own opinion about it:

I just CAN't play anything who involve 7 frets on the fretboard when the guitar hangs below my knees, and SOME of the music I like (the music I want to play) needs wide-opening fingering... so it's physically impossible to get 'wide enough' when your guitar is almost on the floor.

In the other hand, so many hi-tech guitar players (included classical, not only electric Shredders) needs to hold his guitars Relatively HIGH to be able to develop his complex playing and just play their music... guys as Greg Howe, early Richie Kotzen, Petrucci, Michael Romeo, Gambale, Eric Johnson, Michael Lee Firkins or Jason Becker... to name only a few ones.

Well, it's only my opinion but... None of them seems to me 'stupid' when they are playing.

Best Luck buddies!!

PS-For me you are the ONE Marty, what a sense of MELODY and what a crying aggressive vibrato man!!!... keep on shakin' strings!
Best luck to you, friend

I don't know about the other guys you mentioned, but Richie doesn't wear his guitar high, and Jason certainly never did either. Jason and I used to always have a good laugh about guys who wore their guitars too high!