If you are going to play live and you need to shift between finger style and picking... how do I change to pick fast? Any tips?

Ok. So follow me here. I use this awesome tactic for that exact situation. I will hold my pick in between my middle finger. Like.... i usually fingerpick with just my thumb and index. I don't know if you are understanding...but......basically.....the best way i can explain this is that, if you have your hand in a fist i hold the pick from the bottom left corner of my middle finger to the top right ( from corner to corner) A couple other alternatives would be to hold the pick in your mouth(Between your lips not actually IN your mouth), or to hold it between your middle and ringfinger or ring finger and pinky etc.  I don't know....get creative!    Hope this helped.

I use the Albert Lee, Chet Atkins style for my stuff.  That way I finger pick and use the pick both.  If I am gonna do all finger picking style I just throw the pick out and grab another off the mic stand.

If your using the pick first then going to finger picking for the rest of the song, simply throw it on the floor.
If you are alternating between the two, I hold the pick in my palm, takes practice.
Lately I've been finger picking more, I've developed a style just using my index finger to create a similar effect to a pick, in fact now that I'm practicing this technique more, I'm playing less without a pick. The hardest part is the down stroke with your index finger to get it to sound the same as the upstroke, if you practice for say two weeks everyday for about 15 minutes, you should be able to use this technique.  Then again it all depends what style your playing.
The other thing is to just keep working at it, you will develop your own style that suits you.
Cheers

I try to do it something like this ...
http://www.youtube.com/watch?v=flOE5Z8kiws

hey i use them thangs too but , the most important purchase of all of it has been.

http://www.guitarcenter.com/Swirlygig-Microphone-Stand-Drink-Holder-104014212-i1134863.gc

That dude is worth the 13.00

Thanks for all comments, we are going to play "nothing else matters" by Metallica and there is finger picking in the start and goes over in some chords and then finger again...its possible to strum chords without pick, but theres also some power chords so...

How many guitarists in your band?

my friend guitar wizard can play that entire song and its just really simple to do it with the pick for the whole thing...i think