The one very obvious thing I see here for choils and choking up on the grip is that they reduce the chance of your finger slipping over the edge.
Come to think of it, there are many no-choil knives like these that don't have something to prevent the fingers from slipping over the edge, such as a guard, heel, or contours in the handle. Of course there are many that do, but for knives like these without much variation in the width throughout the whole steel, this choil is really helpful to have a safe, secure gripping point when choking up. And it's more than just putting your index finger into the choil--think of how chef's hold their knives:
That's how I use choils sometimes. Just imagine the middle finger in a choil. It lets me get so much more close to the cutting edge and, as you can imagine, is really helpful with indexing to have the edge practically
right there where my thumb and index fingertips are.
I'm against the idea that choils "take away from the cutting edge." It's sort of like how we take off corn kernels from its home and call that corn, but if we keep it whole we call it corn on the cob (props to Mitch Hedberg). A knife with a choil is a knife with a choil--it's not a shadow of its "greater," non-choil version.