So I tried playing with a thinner pick for the first time today (tortex 0.50) and it was surprisingly fun to play with. It didn't feel as accurate when playing fast leads, although it was the standard tortex shape not TIII so that may had something to do with it. The tone differences are more evident than I usually notice between other picks, but then again .50 is pretty extreme compared to everything I've tried so far so I guess it was to be expected.
Having said that, I wouldn't say it's better or worse than thicker picks, I guess it depends on what you want to play. Personally, it doesn't make me want to give up thicker picks but there's no pick that I'm sold 100% with anyway, I change all the time, so I plan to order more of them in TIII and tortex sharp shapes and maybe a little thicker (.60 and .73) to experiment with.