I say lip em.. You can grab them by the bodies but don't say I didn't warn you I've been finned twice, I'll take a thousand slaps to the thumb any day of the week than a fin. Those suckers twist sometimes when they jump you know, I wont put my hands NEAR those fins.
Don't ram your thumb down its throat, thats what makes them chomp down its some kind of reflex. If you ease your thumb in there and gradually let their weight shift to their lip and your thumb your fine. They rarely bite down if you do it like this and if they do there isn't enough pressure to hurt at all.
I suppose its possible for them to swing enough to get you with their pectoral fins but I havent had it happen yet. Obviously a lot of people are going to disagree with me but being born and raised on the coast of florida and having caught thousands of these pests I really think lipping is the best way. -dok