Nick, i found i had fewer pick ups too
especially when i fished it with boilies on the hair, i think it was due to small fish picking up the maggot and knocking the hook around, blunting the point as the waters i did fish contained quite a few smaller fish.
I did find it was an advantage when fishing the method though, with 2 fake maggots mounted length-ways along the hair aswell as the fake maggot mounted on the hook over the eye (i did not use the special mag aligner versions for the hook eye, because i felt the normal fake maggots negated the weight of the hook due to being semi bouyant!). I think it had an advantage here because it made the bait more balanced and the little fish were bullied out of the area by the larger target fish, be they carp, tench or bream ( ).