The balls of feet on the pegs is NOT the correct way to ride.
That depends on all the elements in the equation. There's a lot of things in cycling that are dynamic. (eg: should the front break be covered by 0,1,2 or 3 fingers? When is it appropriate to do each?)
anything that takes away a few seconds from braking instantly in an emergency is dangerous.
1) You can't take away ANY seconds from breaking instantly. If it were instantaneous - there wouldn't be a few seconds to take away.
2) This advice may not hold true of the rear break.
Traction of the rear tire lessons as breaking intensity increases. So, if I've "maxed out" the breaking power of my rear break - as the traction transfers to the front - it will actually cause the rear to lock up (or low-side in a turn) during emergency / panic breaking. This is because it's very unlikely in a emergency / panic breaking event, the rider will be able to progressively squeeze on the front break - while simultaneously progressively releasing pressure from the rear break.
90% + of the breaking force is on the FRONT tire during hard stops. Only a gentle pressure (applied at the right time, and NOT suddenly) on the rear should be used anyway.
I've found the second it takes for me to transfer my foot to the rear break is the second the suspension needs to load up / stabilize / get into position for maximum breaking pressure anyway. This allows me to then progressively press on the rear tire as hard as I dare.
I really don't know what sort of training you guys are actually getting...
MSF, [ame="http://www.amazon.com/Twist-Wrist-Basics-High-Performance-Motorcycle/dp/0965045021/ref=pd_bbs_sr_3?ie=UTF8&s=books&qid=1204565167&sr=1-3"]Twist of the wrist II[/ame] & [ame="http://www.amazon.com/exec/obidos/ASIN/1889540536/bookstorenow57-20"]Proficient Motorcycling[/ame]
I was told by my instructor and by many other highly qualified instructors who know how to ride not to believe or listen to people on forums when it comes to the correct riding technique.
I think it's sound advice to question everything you read / learn.
Even from "highly qualified" instructors.
I encourage all of you (disregard if you already have) to do some reading about the science behind motorcycling, and then practicing / testing the techniques to discover the one that works best for you.