I heard a couple versions of Malaguena when i was 18 and it convinced me that i needed to learn to play flamenco style!! Never really did, but picked up some fun and interesting technique along the way. Not sure if i've ever heard an authentic version of this song or not...time to find one! I always had trouble picking with all five fingers, so i use a pick like you normally would, and fingerpick with the remaining three fingers. Sorta feel like i'm cheating, but it gets the job done.
I kinda worked up a version of my own several years back, based on the basic melody, so i could practice fingerpicking. I recently worked that into an instrumental metal tune....check it out if you like
oh, sorry for sorta hijacking this thread, and thanks for the tab, stallion!