You're a standing player? I had a brief period when I wanted to start standing again, and that's when I played the vomit exercise. It's true that it helps you find a position that lets you access every inch of the fingerboard; when I try to stand I have great difficulty going from low to thumb positions and back. In the end, I sat back down again; it felt like it'd take ages to get as good while standing as I was sitting, like having to tread a too familiar path when you could explore the vast wilderness instead!
I felt that the exercise served its most obvious purpose of making huge left hand leaps seem less threatening, and it also made me more aware of the importance of the bow speed. It IS good for your overall sound! But I see what you mean about feeling Italian. Maybe it isn't so important playing third finger down low.
