Golfquest,
Where does all this come from? Keeping the hands between the elbow and ball will create a bent left wrist. Keeping the ball between the hands and the elbow will create a flat left wrist.
It is advisable to always have a FLW when chipping or pitching. THis would keep the the "ball between the hands and the elbow." From here you can utilize the cut shot or the lob shot for the higher, softer shots or the right arm push stroke (hitting chip) for the lower trajectory shots.
While you will see tour players "flipping" which is losing the FLW during high pitches, it is not advisable unless you need lots of compression loss for the shot at hand. If keeping the hands between the ball and the elbow is practiced enough around the greens I can gaurantee it will create a loss of compression in your full swing. So keep the "flip" in your back pocket and practice the cut shot and the lob keeping the FLW.
You gotta love golf.