Yeti,
Wow! For a moment there, I had Pointer envy of you...a Superlight Pointer....that had to be a loto dough or even more.
The bump? I dunno... cross between style and function. In Yardley's book he talks about the English going toward a very straight grip for a while, that looked very nice, and then the more angled grip that was more functional. Looking in Yardley's book, he refers to it as a Churchill Natural Stock. Assuming the comb stays in the required position relative to the barrel line, the only way to reduce the relative 'bump height' is to raise the grip. According to Churchill, this put the wrist in an unnatural position. I've seen some people that could hardly get their hand in the proper position on a straight grip and others that had a mental block against straight stocks.