Hey Greg, because you're a full access member you can pose your inquiry directly to the instructor by posting this question in the "Ask Mike Olekshy" forum. That way, he'll definitely get back with you on this matter.

As long as you're not concerned with reproducing the original sound of the song as Johnny played it, I see no reason why you shouldn't fingerpick this song. Fingerpicking speed increases should translate roughly into speed increases with the pick. You can slow down the playback by using the speed tabs to the left of the video screen. Don't worry about speed. We all want to play faster. It just takes time.

Nicolai