Gentlemen, I thank you for your helpful responses, clearly demonstrating no consensus whatsoever and thus enabling me to think that whatever I do will be suitably ‘authentic’!
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Bigfish, you’ve hit the nail on the head. It boils down to personal preference, what you want to do, and your setup. If you’re on Teamspeak swapping files and such, putting PTT on your mouse hand can be an issue. As I do, and as a left handed “mouser” , a PTT on the throttle was a problem. For me, setup was also an issue. My DX/FOV is on my throttle pinky button, Hornet-style. The point being you have to figure out what is best for you and your setup.
I have used a variation of Uwe’s “shifted PTT” and it did feel nicely realistic. If TS offered a "continuous " setting that you could turn on and off from the HOTAS, that’s probably what I would use.
I’ve also mapped it to “*”, and have done a “push speak” and “strangle speak” using Voice Attack.
Right now I am using the Warthog Boat switch like Stevie, for the “hot mic” that can be turned on and off functionality.