Michael,

Of course you can "fingerpick one of these beasts". Pick up any Leo Kottke CD and you'll find out why Taylor has the Leo Kottke Signature Model 12 string (and 6 btw).
It's a great 12 string. Tuned 1.5 to 2.5 steps down with heavy medium strings,it gives that Kottke 12 string "roar" tone. Imho, it's the best 12 string out there. I've been playing one since '91, and it's "a keeper". <s>

As for the actual playing....yep, it's just like a 6 string. You hit both strings (1st and 2nd strings are in unison, the rest are octaves) very easily. beats me what your instructor will say....but you're the player, not him!

Hope this helps.

Joe