1) The ball should rest on the fingerPADS for better control, not the fingertips or palm. Look closely and you'll see a little bit of daylight between my palm and the ball.
2) Guide hand directly on the side of the ball.
3) Elbow is directly under the ball, forearm is vertical.
4) No guide hand interference whatsoever. I like to straighten out this hand right before I release so it doesn't get in the way (like Redick, Kobe, KD).