I shoot an elevated rest on my Black Widow longbow. It has given me drastically-improved accuracy and arrow flight.
The whole hand-needs-to-be-as-close-to-the-arrow-as-possible thing did not make any difference whatsoever with my shooting.
I modified an old rest myself, slimming it down so that it didn't build out the strike plate much, and then running it through a calf-hair cover. I actually cut a lot of the rest off with a razor blade, and then put it on a sanding block and slowly thinned it out so that the backing (the part that sticks to the bow) would be as thin as possible.
I've been using the same rest for 18+ months, and seeing the results, will never shoot off the shelf again. I shoot a rest on my recurve, as well.